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Loadstar Shipping Co., Inc., vs. Pioneer Asia Insurance Corp

LOADSTAR SHIPPING CO., INC., Petitioner, vs. PIONEER ASIA INSURANCE CORP., Respondent.

G.R. No. 157481 | 2006-01-24


THIRD DIVISION

D E C I S I O N 

QUISUMBING, J.: 

For review on certiorari are (1) the Decision[1] dated October 15, 2002 and (2) the Resolution[2] dated February 27, 2003, of the Court of Appeals in CA-G.R. CV No. 40999, which affirmed with modification the Decision[3] dated February 15, 1993 of the Regional Trial Court of Manila, Branch 8 in Civil Case No. 86-37957. 

The pertinent facts are as follows: 

Petitioner Loadstar Shipping Co., Inc. (Loadstar for brevity) is the registered owner and operator of the vessel M/V Weasel. It holds office at 1294 Romualdez St., Paco, Manila. 

On June 6, 1984, Loadstar entered into...