The Regional Trial Court (RTC), Branch 24, in Cabugao, Ilocos Sur has approved the Final Project of Distribution of Assets and Termination of Liquidation Proceedings of the closed Rural Bank of Sinait, Inc. (RBSI) filed by the Philippine Deposit Insurance Corporation (PDIC), the Liquidator of said bank.

Creditors with approved claims are advised to claim their check payments starting November 14, 2011 from Monday to Friday, 9:00 AM to 4:00 PM at the Claims Settlement Department, 4/F SSS Building, Ayala Avenue in Makati City. For inquiries, creditors may contact Mr. Elmer R. Cornista at (02) 841-4776.

RBSI, a single-unit bank based in Ilocos Sur, was placed under PDIC receivership by the Monetary Board (MB) on July 5, 1985 by virtue of MB Resolution No. 711. PDIC began servicing depositor claims for RBSI in November 1985, and as of October 2011, PDIC has paid all insured deposits amounting to P1.02 million for 477 accounts.