The Philippine Deposit Insurance Corporation (PDIC) will sell a total of 55 commercial and residential lots owned by closed banks for an aggregate minimum disposal price of PhP31.9 million through electronic public bidding (e-bidding) at https://assetsforsale.pdic.gov.ph on July 15, 2021.
A one-time registration in the PDIC e-bidding portal is required for interested buyers to enable them to participate in thee-biddings. Interested buyers may visit the e-bidding portal for the registration procedures.
Online bids shall be accepted by the PDIC Real and Other Properties Acquired (ROPA) Disposal Committee only from direct buyers who registered in the ebidding portal. Online bids may be placed between 9:00 A.M. on July 14, 2021 and 1:00 P.M. on July 15, 2021. The e-bidding portal may also be accessed by clicking the “Assets for Sale” icon in the PDIC website homepage at www.pdic.gov.ph.
To be sold on an “as-is, where is” basis are 34 residential lots, 16 residential lots with improvement, and four commercial lots with improvements, two of which will be sold together with a 79 square meters road right of way. The properties are located in Batangas, Camarines Norte, Laguna, Marinduque, Oriental Mindoro and Quezon.
The complete list and description of the properties, requirements, ebidding process, and Conditions of Bid are posted on the e-bidding portal. Bid documents such as the required format of the Special Power of Attorney and Secretary’s Certificate, when needed, may be downloaded from the site. For more information on the e-bidding, interested buyers may call the PDIC Public Assistance Department at (02) 8841-4141. Those outside Metro Manila may call the PDIC toll-free hotline at 1-800-1-888- PDIC or 1-800-1-888-7342. Inquiries may also be sent via e-mail to [email protected], or by private message to PDIC’s Assets for Sale Facebook page (@PDICAssetsforSale) or PDIC’s official Facebook page (@OfficialPDIC).
The PDIC, as liquidator of closed banks, disposes of various assets through public biddings and negotiated sale. Proceeds from the liquidation 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. The disposal of these assets increases the chances of recovery of uninsured depositors and creditors of their trapped funds.
The Philippine Deposit Insurance Corporation (PDIC) was established on June 22, 1963 by Republic Act 3591 to provide depositor protection and help maintain stability in the financial system by providing deposit insurance. Effective June 1, 2009, the maximum deposit insurance coverage is PhP500,000 per depositor. All deposit accounts by a depositor in a closed bank maintained in the same right and capacity shall be added together. A joint account shall be insured separately from any individually-owned deposit account.