G.R. NO. 163981 - CONSTRUCTION & DEVELOPMENT CORPORATION OF THE PHILIPPINES (NOW PHILIPPINE NATIONAL CONSTRUCTION CORPORATION), VS. RODOLFO M. CUENCA AND MALAYAN INSURANCE CO., INC..

Ruling

WHEREFORE, in view of all the foregoing, judgment is hereby rendered in favor of plaintiff Malayan Insurance Co., Inc. and against defendant ULTRA and Third-Party defendant PNCC, ordering the latter to pay jointly and solidarily the former the following: a) The sum of P600,000.00 but considering that defendant ULTRA had already advanced the amount of P150,000.00 to plaintiff, their liability has then reduced to the sum of P450,000.00 with legal interest from the date of the filing of the complaint until fully paid; b) The sum equivalent to 20% of all the amounts due and demandable as and for attorney's fees; and c) The costs of suit. The complaint against defendants Edilberto Cuenca and Rodolfo Cuenca and their counter-claims are hereby dismissed for lack of merit. SO ORDERED.