Case Digest (G.R. No. 72005)
Facts:
Philippine British Assurance Co., Inc. v. The Honorable Intermediate Appellate Court, Sycwin Coating & Wires, Inc., and Dominador Cacpal, Chief Deputy Sheriff of Manila, G.R. No. 72005, May 29, 1987, Supreme Court First Division, Gancayco, J., writing for the Court.The private respondent Sycwin Coating & Wires, Inc. sued Varian Industrial Corporation for collection of a sum of money in the Regional Trial Court (RTC), Quezon City, and obtained an order of attachment over some of Varian’s properties. To lift the attachment, Varian filed a counterbond in the amount of P1,400,000.00 executed by Varian as principal and petitioner Philippine British Assurance Co., Inc. as surety; upon filing the counterbond the attached properties were released.
On December 28, 1984, the RTC granted plaintiff’s motion for summary judgment and rendered a money judgment in favor of Sycwin (the decision specified principal, interest, liquidated damages, exemplary damages, attorney’s fees and costs). Varian appealed to the Intermediate Appellate Court (IAC). Sycwin petitioned the IAC for execution pending appeal against the properties released on counterbond; Varian did not file a comment and, in a Resolution of July 5, 1985, the IAC ordered execution pending appeal.
The writ of execution was returned unsatisfied because Varian failed to re-deliver the attached personal properties on demand. Sycwin then filed a petition in the IAC (August 13, 1985) asking that the surety be ordered to pay the value of the counterbond; petitioner filed its comment in compliance with the IAC’s directive. In its Resolution dated September 12, 1985, the IAC granted Sycwin’s petition and ordered the counterbond to be applied to satisfy the judgment. Petitioner sought relief from t...(Pro-only)
Issues:
- Is a motion for reconsideration a mandatory precondition to the issuance of a writ of certiorari in this case, or may certiorari be entertained despite its absence?
- May an order of execution pending appeal be enforced against a counterbond given to lift an attachment (i.e., does a counterbond under Rule 57 secure “any judgment,” including one pending appeal, and render the surety liable when e...(Pro-only)
Ruling:
- (Pro-only)
Ratio:
- (Pro-only)
Doctrine:
- (Pro-only)