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Wallem Phils Shipping, et al vs Prudential Guarantee & CA

WALLEM PHILIPPINES SHIPPING INC. and SEACOAST MARITIME CORPORATION, petitioners, vs. PRUDENTIAL GUARANTEE & ASSURANCE INC. and COURT OF APPEALS, respondents.

G.R. No. 152158 | 2003-02-07

D E C I S I O N

MENDOZA, J.:

This is a petition for review on certiorari of the decision, dated January 31, 2001, and resolution, dated February 14, 2002, of the Court of Appeals,[1] which reversed the decision, dated September 21, 1995, of the Regional Trial Court, Branch 134, Makati City in Civil Case No. 91-1053, entitled "Prudential Guarantee & Assurance Inc. v. Wallem Philippines Shipping Inc. and Seacoast Maritime Corporation."

The background of this case is as follows:

On April 17, 1991, private respondent Prudential Guarantee & Assurance Inc. (Prudential) brought an action for damages and attorney's fees against Wallem...