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[G.R. No. 147839. August 23, 2006]

GAISANO CAGAYAN, INC. v. INSURANCE COMPANY OF NORTH AMERICA

Sirs/Mesdames:

Quoted hereunder, for your information, is a resolution of this Court dated AUG. 23, 2006

G.R. No. 147839 (Gaisano Cagayan, Inc. v. Insurance Company of North America)

Before the Court could act on the petitioner's Motion for Reconsideration of the Court's Decision dated June 8, 2006, the parties filed a Joint Motion to Dismiss on the ground that they have entered into an amicable settlement to their mutual satisfaction, attaching thereto a copy of the Amicable Settlement. In the said Compromise Agreement, respondent received the amount of P2,119,205.60 foregoing interests of said amount as full and complete payment of petitioner under the causes of action in this case. However, it appears that the said Compromise Agreement does not bear the express conformity of the duly designated representative of respondent Insurance Company of North America.

In view thereof, respondent Insurance Company of North America is DIRECTED to manifest through its duly designated representative to confirm the provisions of the Compromise Agreement, ten days from notice hereof.

SO ORDERED.

Very truly yours,

(Sgd.) ENRIQUETA ESGUERRA-VIDAL
Clerk of Court

First Division

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