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PDIC urges creditors of Rural Bank of La Trinidad (Benguet), Inc. to claim payment approved by the Liquidation Court

June 7, 2018

The Philippine Deposit Insurance Corporation (PDIC) started to process and settle claims of creditors of the closed Rural Bank of La Trinidad (Benguet), Inc. in April 2018 to implement the Order of the Liquidation Court (Regional Trial Court, First Judicial Region, Branch 10) that approved the closed bank’s Revised Partial Asset Distribution Plan. All creditors of the bank who received Notices of Payment via registered mail are urged to claim payments immediately, preferably, within sixty (60) days upon receipt of the Notices.

To claim payments, creditors may submit the required documents personally at the PDIC Public Assistance Center located at the 3rd Floor, SSS Building, Ayala Avenue corner V.A. Rufino St., Makati City. For convenience of the creditors, the required documents may also be sent by mail addressed to the PDIC Public Assistance Department (PAD), 6th Floor, SSS Building, Ayala Avenue corner V.A. Rufino St., 1226 Makati City.

PDIC reminded creditors to prepare and submit the following basic requirements when claiming payment: 1) Duly notarized Indemnity Agreement with Quitclaim executed and signed by the claimant; and 2) Photocopy of one (1) valid identification document (ID). A copy of the Indemnity Agreement was attached to the Notice of Payment sent to all creditors of the bank. Creditors will be duly notified in case additional documents are required. Check payments may be sent via registered mail at the option of the creditor.

As Receiver of closed banks, PDIC requires personal data from creditors to be able to process their claims and protects these data in compliance with the Data Privacy Act of 2012.

Rural Bank of La Trinidad was ordered closed on August 15, 2013 by the Monetary Board of the Bangko Sentral ng Pilipinas that also designated PDIC as liquidator of the closed bank. It is a two-unit bank with Head Office located at Solis Bldg., JC 105, Km. 5, Pico, La Trinidad, Benguet. Its lone branch is in Dagupan City, Pangasinan.

All inquiries relating to the closed Rural Bank of La Trinidad should be addressed to the PDIC Public Assistance Department through mail at the 6th Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino St., Makati City, or through telephone numbers (02) 841-4630 or 841-4631. Depositors and creditors outside Metro Manila may call the PDIC Toll Free Hotline at 1-800-1-888-PDIC (7342). Inquiries may also be sent via e-mail at pad@pdic.gov.ph, or thru private message to the official PDIC Facebook account at www.facebook.com/OfficialPDIC.

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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.

PDIC news/press releases and other information are available at the website, www.pdic.gov.ph.


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