PDIC urges creditors of Eastern Visayas Development Bank to claim payments approved by the Liquidation Court
September 7, 2018
The Philippine Deposit Insurance Corporation (PDIC) has started to process and settle the claims of creditors of the closed Eastern Visayas Development Bank, Inc. The settlement of creditors’ claims was based on the Order of the Liquidation Court (Regional Trial Court, Branch 8, 8th Judicial Region, Tacloban City) that approved the closed bank’s Final Asset Distribution Plan. Creditors refer to any individual or entity with a valid claim against the assets of a closed bank, including depositors with uninsured deposits that exceed the maximum deposit insurance coverage (MDIC), which was at PhP100,000 during the time of bank closure.
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. Meanwhile, creditors of the bank who have no addresses or other contact details on record at the closed bank are strongly encouraged to claim payments immediately, preferably by September 15, 2018.
To claim payment, creditors may submit the required documents in person at the PDIC Public Assistance Center at the 3rd floor of the SSS Building, 6782 Ayala Avenue corner V.A. Rufino St., Makati City. Creditors may also send the required documents by mail addressed to the PDIC Public Assistance Department (PAD), 6th floor of the SSS Building, 6782 Ayala Avenue corner V.A. Rufino St., Makati City. Check payments may be sent by PDIC via registered mail at the option of the creditor.
Creditors who are individual claimants are reminded to prepare and submit the following basic requirements to claim payment: (1) Duly notarized Indemnity Agreement with Quitclaim executed and signed by the claimant; and (2) Photocopy of one (1) valid identification document (ID). Upon receipt of the basic requirements, PDIC shall notify creditors in case of additional documents required.
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.
Eastern Visayas Development Bank, Inc. is a one-unit bank located in Villasin Bldg., Rizal St., Tacloban City, Leyte and was ordered closed on December 17, 1997 by the Monetary Board of the Bangko Sentral ng Pilipinas, which also designated PDIC as Liquidator of the closed bank.
All inquiries related to the closed bank 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 email@example.com, 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.