D E C I S I O N
CRUZ, J:
The concept of piercing the veil of corporate fiction is a mystique to many people, especially the layman. But it is not as esoteric as all that as this case will demonstrate.
This case arose when Violeta M. Borres, private respondent herein, was injured in an accident that was later held by the trial and respondent courts to be due to the negligence of Phividec Railways, Inc. (PRI). 1 The accident occurred on March 29, 1979. On May 25, 1979, petitioner Philippine Veterans Investment Development Corporation (PHIVIDEC) sold all its rights and interests in the PRI to the Philippine Sugar Commission (PHILSUCOM). Two days...
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