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Prudential Guarantee and Assurance, Inc. Vs. ANSCOR Land, Inc.

PRUDENTIAL GUARANTEE AND ASSURANCE INC., Petitioner, versus ANSCOR LAND, INC., Respondent

G.R. No. 177240 | 2010-09-08

DECISION


VILLARAMA, JR., J.:

This petition for review on certiorari under Rule 45 of the 1997 Rules of Civil Procedure, as amended, assails the Decision[1] dated April 28, 2006 of the Court of Appeals (CA) in CA-G.R. SP No. 72854 which modified the Decision[2] promulgated on September 2, 2002 by the Construction Industry Arbitration Commission (CIAC) to the effect that herein petitioner Prudential Guarantee and Assurance Inc. (PGAI) was declared solidarily liable with its principal Kraft Realty and Development Corporation (KRDC) under the performance bond.

The facts follow.

On August 2, 2000, Anscor Land, Inc. (ALI) and KRDC entered...