Motion For Judgment On Compromise
Motion For Judgment On Compromise
For: Recovery of
Breach of Contract of
Carriage
Ocean Liner Corporation,
Defendant
X-------------------------------------------------X
MOTION FOR APPROVAL OF COMPROMISE AGREEMENT
The parties respectfully allege that:
1.
2.
Funeral Expenses
Actual Damages for Property Lost
Moral Damages
Attorneys Fees
Costs
P250,000
P80,000
P 300,000
P 120,000
P 100,000
___________________________________________________________
TOTAL
P 850,000.00
In view of the mutual desire of the parties to reach a just and agreeable
settlement between the parties and to ensure faithful compliance of the
parties of their respective undertakings:
a. The second party undertakes to deposit P18,000.00 to the respective
LandBank accounts of herein Juan De La Cruz, Pedro Santos, Maria
Makiling and John Domingo every month until the amount
abovementioned has been fully paid.
b. The first installment shall be paid one month after the approval of
this compromise agreement by the Court.
c. Each monthly installment shall be paid within the first five (5) days
of every month.
II. Waiver/Release/Discharge;
The Parties agree that upon signing of this agreement, they shall submit
this Compromise Agreement for judicial approval in the appropriate civil
cases or courts, through a Joint Motion for Judgment Based on a
Compromise Agreement.
The Parties agree that upon the occurrence of the events provided in I
paragraphs (a) and (b), and subject to the Courts approval, both parties and
their successor-in-interest, assigns, representatives, stockholders, officers,
directors, agents or employees agree to absolutely and unconditionally
release, quitclaim, discharge and hold free and harmless each other, from
any and all claims, suits and actions of whatever nature and kind, disclosed
and undisclosed, pending or potential, including but not limited to civil,
criminal and/or administrative actions, claims for sums of money, or
damages, which in the law or equity each party to this Agreement may have
against the other, its successors-in-interest and assigns had, now have or
may hereafter have by reason of any matter, cause or thing whatsoever,
directly or indirectly arising out of, or related to the facts and circumstances
mentioned or narrated in the Civil Case.
The considerations stated in I (A) shall represent the full, final,
unconditional and universal settlement of all claims, disclosed or
A. Transaction Expenses
Transaction expenses shall include, among others, legal fees, financial
advisors fees and arrangers fees. Each party shall bear its own transaction
expenses.
B. Confidentiality
The Parties, their assignees, transferees and/or successors-in-interest agree
to keep the terms of this Compromise Agreement confidential and shall not
disclose any information contained herein to any third party, or the matters
contained herein (including, without limiting, information provided by or
on behalf of any of the parties, its assignee, transferee and/or successor-in
interest in connection with or pursuant to this Compromise Agreement)
without prior written consent of the other party, unless otherwise provided
by law or required by competent authority.
C. Transferability
The first party may assign or transfer its rights under this Agreement to any
third party without the prior written consent of the second party.
JUAN DE LA CRUZ
ANNA BATUMBAKAL
Officer-in-charge
Ocean
Liner
Corporation
PEDRO SANTOS
MARIA MAKILING
JOHN DOMINGO
3. The parties agree that the approval of this agreement by the
Court shall put an end to this litigation, except for purposes
of execution in case of default.
Tacloban City
Page No. 60
Book No. 1
Series of 2016