THE Philippine Deposit Insurance Corp. (PDIC) is set to release a total of 46 closed banks’ assets consisting of residential and commercials lots with aggregate minimum disposal price of P80.9 million through a public bidding in November.
According to the insurance firm, at least 30 residential lots, five commercial lots, 10 motor vehicles and a generator set are up for bidding.
The assets are located in Metro Manila, Aklan, Antique, Bohol, Capiz, Cebu, Guimaras, Iloilo, Negros Occidental, Negros Oriental and Palawan.
Each bid should be accompanied by a bond equivalent to at least 10 percent of the submitted bid, in cash or Manager’s Check issued by a reputable universal or commercial bank and payable to PDIC.
The PDIC said the winning bidder should pay the balance of the purchase price in full within 15 calendar days from the receipt of the Certificate of Award or not later than December 13, 2019.
“We advise bidders to physically inspect the properties they are interested to buy, examine and verify the titles and other evidence of ownership, and determine any unpaid taxes, fees, charges and/or expenses before submitting their bids,” the firm said in a statement.
Proceeds from the sale of closed banks’ properties are added to the pool of liquid assets of these banks for distribution to uninsured depositors and other creditors in accordance with the rules on concurrence and preference of credits.
Sealed bids shall be accepted by the PDIC Real and Other Properties Acquired (ROPA) Disposal Committee from direct buyers only between 9am and 1:45p.m. at the venue. Bids will be opened at 2 p.m.