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Megaworld Globus Asia, Inc. vs DSM Construction and Development Corp.

MEGAWORLD GLOBUS ASIA, INC., petitioner, vs. DSM CONSTRUCTION AND DEVELOPMENT CORPORATION and PRUDENTIAL GUARANTEE AND ASSURANCE, INC., respondents.

G.R. No. 153310 | 2004-03-02

D E C I S I O N
 
TINGA, J.:

Before this Court is a Petition for Review on Certiorari assailing the Decision dated February 14, 2002, of the Court of Appeals in CA G.R. SP No. 67432,[1] which affirmed the Decision[2] of the Construction Industry Arbitration Commission (CIAC)[3] dated September 8, 2001, in CIAC Case No. 22-2000 finding petitioner Megaworld Globus Asia, Inc., liable to DSM Construction in the amount of P62,760,558.49.

The antecedents are as follows:

Relative to the construction of a condominium project called "The Salcedo Park," located at H.V. dela Costa St., Salcedo Village, Makati City, the project owner,...