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[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
Third Division
Sirs/Mesdames:
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 (Philippines),
Inc., and respondents Dayal Nandwani,
in his capacity as trustee for, and Bina M. Nandwani, in her capacity as guardian of, Sima M. Nandwani,
[1]
cralaw assisted
by their counsels. The Compromise
Agreement, dated
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
(PHILIPPINES), INC.
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
Endnotes:
[1] cralaw 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.
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