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Communications and Information System Corp. vs. Mark Sensing Australia Pty. LTD.

COMMUNICATION AND INFORMATION SYSTEMS CORPORATION, PETITIONER, VS. MARK SENSING AUSTRALIA PTY. LTD., MARK SENSING PHILIPPINES, INC. AND OFELIA B. CAJIGAL, RESPONDENTS.

G.R. No. 192159 | 2017-01-25

Republic of the Philippines
Supreme Court
Manila
 
THIRD DIVISION
 
DECISION 
 
JARDELEZA, J.:
 
This is a petition for review on certiorari[1] seeking to set aside the Decision[2] dated November 25, 2009 and Resolution[3] dated April 23, 2010 of the Court of Appeals (CA) in CA-G.R. SP No. 110511. The question is whether courts may approve an attachment bond which has been reinsured as to the excess of the issuer's statutory retention limit.
 
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Petitioner Communication and Information Systems Corporation (CISC) and respondent Mark Sensing Australia Pty. Ltd. (MSAPL) entered into a Memorandum of...