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BULLETIN   

BULLETIN NO. 2021-06
TO :ALL MEMBER BANKS
SUBJECT :

RURAL BANK OF DATU PAGLAS, INC.


Please be informed that, pursuant to Section 30 of R.A. No. 7653 (New Central Bank Act), the Monetary Board, in Resolution No. 1110. A dated August 26, 2021, prohibited RURAL BANK OF DATU PAGLAS, INC. (“Bank”), with office address at Poblacion, Datu Paglas, Maguindanao, from doing business in the Philippines and directed the PHILIPPINE DEPOSIT INSURANCE CORPORATION (PDIC) as Receiver to proceed with the takeover and liquidation of the Bank in accordance with Section 12 of RA No. 3591, as amended.

Under Section 13 of R.A. No. 3591 (PDIC Charter), as amended by R.A.10846, a bank that has been placed under liquidation shall in no case be re-opened and permitted to resume banking business. Furthermore, Section 12 thereof expressly provides that banks closed by the Monetary Board shall no longer be rehabilitated.

Notice of Closure was served to the bank’s Chairman and Board of Directors present during the video conference held on August 27, 2021 and transmitted via electronic mail to the official email address of the bank.

Please be informed that upon placement of the Bank under liquidation, the powers, functions and duties of the directors, officers and stockholders of the Bank are terminated. Accordingly, the directors, officers, and stockholders shall be barred from interfering in any way with the assets, records and affairs of the Bank. Therefore, should you be in possession of any asset and/or records of the closed Rural Bank of Datu Paglas, Inc.., you are advised not to allow or honor any transaction affecting the same without the consent of the Receiver and to immediately turnover the said assets and/or records to the Deputy Receiver at the address provided below.

Moreover, all assets of the Bank are deemed to be in custodia legis in the hands of the Receiver and may not be subject to attachment, garnishment, execution, levy or any other court processes.

All inquiries, communications or transactions relating to or involving the Bank should be addressed to:

The Public Assistance Department (PAD)
Philippine Deposit Insurance Corporation

Mail/Courier at: 3rd Floor, SSS Building, 6782 Ayala Avenue corner V.A. Rufino Street, Makati City 1226

Hotline : (632) 8841-4141 (for depositors within Metro Manila, during office hours)

Toll Free : 1-800-1-888-7342 or 1-800-1-888-PDIC (for those outside Metro Manila, during office hours)

Email : datupaglas-pad@pdic.gov.ph

Facebook : www.facebook.com/OfficialPDIC

In view of the strict health protocols, visits to the PDIC will be on appointment basis only. Appointment schedule may be secured through telephone, email or Facebook private message with contact details as provided above.


(Sgd.) ATTY. NILO ALDRIN M. LUCINARIO
Officer-in-Charge
Receivership and Liquidation Sector

August 27, 2021
Date
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PDIC is a government instrumentality created in
1963 by virtue of Republic Act 3591, as amended,
to insure the deposits of all banks. PDIC exists to
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