By Lawrence Agcaoili (The
Philippine Star) | Updated May 12, 2016 - 12:00am
MANILA, Philippines –
State-run Philippine Deposit Insurance Corp. (PDIC) is disposing several assets
of foreclosed banks worth P135 million through a public bidding at the end of
the month.
PDIC’s Real & Other
Properties Acquired (ROPA) Disposal Committee is set to sell on an “as-is,
where-is” basis 95 assets owned by closed banks on May 31.
Up for bidding are 91 real
properties located in Albay, Bataan, Benguet, Bulacan, Cagayan, Camarines Sur,
Cavite, Ilocos Sur, Isabela, Laguna, La Union, Metro Manila, Misamis Oriental,
Nueva Ecija, Pangasinan, Quezon, Surigao del Norte, and Zambales.
PDIC is also selling a
generator set and three motor vehicles.
Bidders are advised to
bring proper identification document with photo and to register at least one
hour prior to the deadline for submission of bids. Bid documents may be
downloaded free of charge from the PDIC website, www.pdic.gov.ph.
Prospective buyers are also
advised to physically inspect the properties they are interested in, examine
and verify the titles and other documents, and determine any unpaid taxes, fees
and/or expenses before submitting their bids.
Each bid should be
accompanied by a bond/deposit equivalent to at least 10 percent of the
submitted bid, in cash or manager’s or cashier’s check, or a combination
thereof.
The expeditious conversion
and resolution of assets are among the objectives outlined in PDIC’s strategic
directions.
PDIC, as liquidator of
closed banks, conducts various asset-disposal initiatives such as biddings,
auctions and negotiated sale.
Proceeds from the sale of
closed banks’ properties are used to increase the chances of recovery of
uninsured depositors and creditors of their trapped funds while gains from the
sale of corporate assets are added to the Deposit Insurance Fund (DIF).
The DIF is PDIC’s main fund
source for payment of valid deposit insurance claims.
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