G.R. No. 167530 - Philippine National Bank vs. Hydro Resources Contractors Corp.

Ask AI

G.R. No. 167530: Philippine National Bank vs. Hydro Resources Contractors Corp.

Getting related questions...
What do you want to know about the case?
Your conversations and searches stay on your device. We do not store or track your activity on our servers. To know more about our privacy commitment see jur.ph/privacy Ask AI provides quick answers grounded in full case texts to avoid mistakes. Always verify with the original text.

Ask AI

Title Supreme Court: Philippine National Bank vs. Hydro Resources Contractors Corp.

Case: G.R. No. 167530

Decision Date: Mar 13, 2013

DBP and PNB formed NMIC, which defaulted on a contract with Hercon (later HRCC). HRCC sued, seeking to pierce NMIC's corporate veil to hold DBP, PNB, and APT liable. SC ruled NMIC had separate juridical personality; no evidence justified piercing the veil. APT, as trustee, was not liable but must ensure compliance.

corporate veil

parent corporations

liability

Long 30 min

1.8x of typical case length

END