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Autocorp Group, et al. Vs. Intra Strata Assurance Corp, et al.

AUTOCORP GROUP and PETER Y. RODRIGUEZ, Petitioners, versus INTRA STRATA ASSURANCE CORPORATION and BUREAU OF CUSTOMS, Respondents.

G.R. No. 166662 | 2008-06-27

D E C I S I O N


CHICO-NAZARIO, J.:

This is a Petition for Review on Certiorari from the Decision[1] of the Court of Appeals dated 30 June 2004 in CA-G.R. CV No. 62564 which affirmed with modification the Decision[2] of the Regional Trial Court (RTC) of Makati City, Branch 150 in Civil Case No. 95-1584 dated 16 September 1998.

The factual and procedural antecedents of this case are as follows:

On 19 August 1990, petitioner Autocorp Group, represented by its President, petitioner Peter Y. Rodriguez, secured an ordinary re-export bond, Instrata Bond No. 5770, from private respondent Intra Strata Assurance Corporation (ISAC) in favor of...