Issue of January 6, 2019
     
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PDIC raises P72.1 M from sale of assets thru public bidding
by PDIC release

The Philippine Deposit Insurance Corporation (PDIC) generated a total of P72.1 million from the sale of 15 closed banks’ properties through public biddings.

Sold assets yielded an aggregate premium of P6.5M against the total minimum disposal price of P65.6M.

Sold assets consisted of five residential lots, two residential lots with improvement, one commercial lot, four commercial lots with improvement, two motor vehicles, and one generator set located in Luzon and Visayas.

Proceeds from the sale of closed banks’ properties are added to the pool of liquid assets of these banks for distribution to creditors and uninsured depositors in accordance with the rules on concurrence and preference of credits.

The expeditious liquidation of assets is one of the strategic directions of PDIC as liquidator of closed banks.

To help ensure that recoveries from closed banks’ assets are maximized, PDIC sells assets via competitive biddings and auctions. Interested buyers are encouraged to visit the PDIC website at www.pdic.gov.ph and click on the Assets for Disposal icon for information on the inventory of available assets for sale.

Unsold assets from public biddings may be acquired by interested parties via negotiated sale.

Prospective buyers may communicate with the PDIC Public Assistance Department at (02) 841-4630 to 31 or at pad@pdic.gov.ph.

Those outside Metro Manila may call the PDIC toll-free hotline at 1-800-1-888-7342 or 1-800-1-888-PDIC. Inquiries may also be sent as private message at Facebook throughwww.facebook.com/OfficialPDIC.


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