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Polystyrene Manufacturing Co., Inc. vs. Privatization & Management Office

POLYSTYRENE MANUFACTURING COMPANY, INC., Petitioner, versus PRIVATIZATION AND MANAGEMENT OFFICE, Respondent.

G.R. No. 171336 | 2007-10-04

D E C I S I O N
 

GARCIA, J.:

Via this petition for review under Rule 45 of the Rules of Court, petitioner Polystyrene Manufacturing Company, Inc. (PMCI, for short) seeks to nullify and set aside the Decision[1] dated August 31, 2005 of the Court of Appeals (CA) in CA-G.R. CV No. 76211, entitled "Polystyrene Manufacturing Company, Inc. v. Privatization and Management Office," as effectively reiterated in its Resolution[2] of January 20, 2006.

As borne by the records, the undisputed facts are:

In 1973, PMCI obtained a loan of US$1,100,000.00 from Mitsubishi International Corporation (MIC) payable in eight (8) years with interest...