PDIC extends claim filing deadlinefor Rural Bank of Talisay creditors

CEBU, Philippines — The Philippine Deposit Insurance Corporation (PDIC) has extended the deadline for all creditors of the closed Rural Bank of Talisay (Cebu), Inc. to file their claims against the bank’s assets. The new deadline for filing is December 18, 2023.

Claimants are advised to connect with PDIC through e-mail, mail, or personal filing.

Creditors refer to any individual or entity with a valid claim against the assets of the closed Rural Bank of Talisay (Cebu), Inc. and include depositors whose deposits exceed the maximum deposit insurance coverage (MDIC) of P500,000.

In a statement, PDIC said that creditors may file their claims through any of the following; E-mail at [email protected]; Mail--addressed to the PDIC Public Assistance Department, Ground Floor, PDIC Chino Bldg., 2228 Chino Roces Avenue, Makati City 1231. Claims filed by mail must have a postmark date no later than December 18, 2023.

Personal filing at the PDIC Public Assistance Center (PAC) is also accepted at the  3rd Floor, SSS Bldg., 6782 Ayala Avenue corner V.A. Rufino St., Makati City, from Monday to Friday, from 8:00 AM to 5:00 PM.

Claims filed after December 18, 2023 shall be disallowed.

As the Receiver, PDIC will be notifying creditors of the denial or disallowance of claims through mail. Claims denied or disallowed by the PDIC may be filed with the liquidation court within 60 days from receipt of final notice of denial or disallowance of claim or within 20 days from the date of publication of the Order setting the Petition for Assistance in the Liquidation Proceeding for initial hearing, whichever is later.

In addition, PDIC said that depositors with account balances of more than the MDIC of P500,000 who have already filed claims for the insured portion of their deposits as of December 18, 2023, are deemed to have filed their claims for the uninsured portion or the amount over the MDIC.

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

Rural Bank of Talisay (Cebu), Inc. was ordered closed by the Monetary Board Resolution No. 1223.A dated September 21, 2023. It is a single-unit rural bank located along Cebu South Road, Tabunok, Talisay City, Cebu.

PDIC took over the bank on September 22, 2023.

Established in 1965 by the husband-and-wife duo, Ruperto and Florentina Villo, the now-defunct Rural Bank of Talisay (Cebu) Inc. boasted of a storied history. According to the most recent records available as of March 31, 2023, the bank was home to 3,102 deposit accounts, collectively holding deposit liabilities amounting to P93.1 million, out of which P64.7 million were secured through deposit insurance. — (FREEMAN)