G.R. No. 140047 - Philippine Export and Foreign Loan Guarantee Corp. vs. V.P. Eusebio Construction Inc.

Philippine Export and Foreign Loan Guarantee Corp. vs. V.P. Eusebio Construction Inc.

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Title Supreme Court: Philippine Export and Foreign Loan Guarantee Corp. vs. V.P. Eusebio Construction Inc.

Case: G.R. No. 140047

Decision Date: Jul 13, 2004

A construction joint venture in Iraq faced delays due to non-payment by the Iraqi government. Philguarantee, acting as a guarantor, paid under a performance bond but was denied reimbursement as VPECI was not in default. The Supreme Court ruled Philguarantee’s payment was undue and unenforceable.

service contract

construction firm

reimbursement

Very Long 32 min

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