As Liquidator of closed banks, the PDIC undertakes various modes of asset disposal in accordance with the Corporation’s strategic direction to expeditiously dispose of non-financial assets. These modes include public bidding, negotiated sale and public auction. Properties not sold during biddings/auctions are available for negotiated sale or may be bid out again. Assets for disposal are classified as either corporate or closed banks’ assets. Proceeds from the sale of corporate assets are added to the Deposit Insurance Fund, PDIC's main fund source for payment of insured deposits. Meanwhile, proceeds from the sale of closed banks' assets are credited to the funds held in trust for the closed banks concerned to settle claims of creditors and uninsured depositors.
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