[G.R. No. 170089.
Third Division
Quoted hereunder, for your information is a resolution of the
Third Division of this Court dated MAR. 13, 2006
G.R. No. 170089 (Lincoln Philippine Life Insurance Company v. Dayal Nandwani, in his capacity as trustee for, and Bina M. Nandwani, in her capacity as guardian of, the minor Sima M. Nandwani)
Before this Court is a "Joint Motion for Judgment Based on
Compromise Agreement" filed by petitioner Lincoln Philippine Life
Insurance Company, thru its successor-in-interest The Manufacturer's Life
Insurance Company (
1. For in and
consideration of the TRUSTEE and the BENEFICIARY's
dismissal with prejudice of the CIVIL CASE, the INSURER hereby pays the BENEFICIARY
the amount of THREE MILLION FIVE HUNDRED
THOUSAND PESOS ONLY (P3,500,000.00), receipt of which the TRUSTEE, for and
in behalf of the BENEFICIARY, hereby acknowledges, as full and complete satisfaction
of any and all claims that the said TRUSTEE and BENEFICIARY may have against
the INSURER, and in lieu of any and all amounts as may have been adjudged, or
may be adjudged against the INSURER with finality, in the CIVIL CASE.
2. The Parties mutually waive
each other's claims and counterclaims in the CIVIL CASE and release and forever
discharge each other, their successors-in-interest, stockholders, officers,
directors, agents, or employees from any causes of action, damages, claims and
demands whatsoever, which in law or in equity they had, now have, or which
they, their successors-in-interest, stockholders, officers, directors, agents,
or employees, may have by reason of any matter, cause, or thing whatsoever, up
to this day, the intention being to completely, absolutely and mutually release
and discharge each other, as well as each other's successors-in-interest,
stockholders, officers, directors, agents or employees from all liabilities
arising wholly, partially, directly or indirectly from the transaction subject
of, arising from or connected with the CIVIL CASE.
3. The parties jointly
manifest that the settlement of the CIVIL CASE shall not be taken by them,
their successors-in-interest, stockholders, officers, directors, agents, or employees
as a confession and/or admission of liability on their part as well as their
successors-in-interest, stockholders, officers, directors, agents, or employees
for any matter, cause, demand, or claim that either of them may have against
any or all of them.
4. The parties hereby
acknowledge that they, their successors-in-interest, stockholders, officers,
directors, agents, or employees will not institute any action and will not
continue to prosecute any pending action or appeal related to, or arising from,
the matters subject of, or which could have been raised in, the CIVIL CASE
against the other or their successors-in-interest, stockholders, officers,
directors, agents, or employees.
5. The parties shall
submit this Compromise Agreement to the appropriate trial or appellate court
for the latter to approve and render judgment in the CIVIL CASE based thereon, in
lieu of any and all amounts as may have been adjudged, or may be adjudged
against the other with finality, in the CIVIL CASE.
IN WITNESS WHEREOF, the parties have signed this Compromise
Agreement on the date and at the place stated above.
(signed)
SEEMA M. NANDWANI THE MANUFACTURER'S LIFE
Beneficiary INSURANCE COMPANY
(
By:
(signed)
RENATO A. VERGEL DE
DIOS
WHEREFORE, finding the
COMPROMISE AGREEMENT to be in order
and not contrary to law, public morals, and public policy, the same is hereby APPROVED. This Resolution is immediately executory.
SO ORDERED. Quisumbing, J., on
official leave.
Very truly yours,
(Sgd.) LUCITA ABJELINA-SORIANO
Clerk of Court
[1] Respondent Sima M. Nandwani, also referred to as Seema M. Nandwani, was a minor when this case was filed in the trial court. She has since reached the age of majority and thus signed the Compromise Agreement herself.