Back

Refractories Corp. of the Phil. Vs. I.A.Court etal.

REFRACTORIES CORPORATION OF THE PHILIPPINES, petitioner, vs. THE INTERMEDIATE APPELLATE COURT and FIRESTONE CERAMIC, INC., respondents.

G.R. No. 70839 | 1989-08-17

R E S O L U T I O N


REGALADO, J.:

In 1980, petitioner Refractories Corporation of the Philippines (Refractories, for short) imported from Japan around 250 metric tons of magnesite "ube" green and magnesia clinker. When the shipment arrived, they were discovered to he water-damaged end unfit for consumption hence they were stored in the warehouse of petitioner at Iligan City. As a consequence, petitioner declared the whole cargo a total loss end filed a claim with its insurer, Filriters Guaranty Assurance Corporation (hereinafter referred to as Filriters).

Subsequently, with the knowledge and consent of petitioner, Filriters placed said...