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First Philippine Holding Corporation Vs. Trans Middle East (Phils.) Equities Inc.

FIRST PHILIPPINE HOLDINGS CORPORATION, PETITIONER, VERSUS TRANS MIDDLE EAST (PHILS.) EQUITIES INC., RESPONDENT.

G.R. No. 179505 | 2009-12-04

D E C I S I O N


CHICO-NAZARIO, J.:

This Petition for Review under Rule 45 of the Rules of Court seeks to reverse and set aside the 22 February 2007 Resolution[1] of the Sandiganbayan, Fifth Division in Civil Case No. 0035 granting respondent Trans Middle East (Phils.) Equities Inc.'s (TMEE's) Motion to Dismiss on the ground of prescription, petitioner First Philippine Holdings Corporation's (FPHC's) Complaint-in-Intervention, and its 6 September 2007 Resolution denying petitioner's motion for reconsideration.

FPHC, formerly known as Meralco Securities Corporation, which was incorporated in 30 June 1961 by Filipino entrepreneurs led by...