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                    [ArticleID] => 172335
                    [Title] => PDIC stopped from selling Unitrust assets
                    [Summary] => The Makati Regional Trial Court has issued an order stopping the Philippine Deposit Insurance Corp. (PDIC) from selling the assets of Unitrust Development Bank. 


The temporary restraining order (TRO) will be in effect for 20 days starting on Aug. 14. 


The court also ordered the PDIC to refrain from awarding or accepting "the rehabilitation program of Philippine Bank of Communications (PBCom) without the requisite stockholders’ approval." 


                    [DatePublished] => 2002-08-17 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 154393
                    [Title] => BSP acts to prevent repeat of Unitrust Bank fiasco
                    [Summary] => Stung by the collapse of Unitrust Development Bank, the Bangko Sentral ng Pilipinas (BSP) wants authority to clear all bank takeovers before the transactions are consummated to prevent similar failures.


BSP Governor Rafael Buenaventura said the central bank is looking into its own rules and regulations to explore mechanisms that would allow it to clear the sale of bank shares before they become final.


                    [DatePublished] => 2002-03-19 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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                (
                    [ArticleID] => 145985
                    [Title] => Unitrust Bank placed under receivership
                    [Summary] => Unitrust Development Corp., a thrift bank reportedly owned by the group of Japanese businessman Genta Ogami, declared a bank holiday yesterday and was immediately placed under receivership by the Philippine Deposit Insurance Corp. (PDIC).


The 12-branch thrift bank is the first bank to fold up this year.


Ogami is the owner of G. Cosmos Philippines which was ordered by the Securities and Exchange Commission (SEC) to close after it engaged in the sale of unregistered investment contracts.


                    [DatePublished] => 2002-01-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1704647
                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 136376
                    [Title] => BSP orders Unitrust to stop advertisements
                    [Summary] => The Bangko Sentral ng Pilipinas has ordered Unitrust Development Bank (Unitrust) to discontinue its newspaper advertisements announcing its intention to engage in businesses unrelated to its functions as a thrift bank.


At the same time, the BSP asked Unitrust to a meeting today to discuss certain issues raised by the central bank as well as the Ogami group’s business plans.


                    [DatePublished] => 2001-10-12 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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)

UNIVERSAL CO

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    [results] => Array
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            [0] => Array
                (
                    [ArticleID] => 172335
                    [Title] => PDIC stopped from selling Unitrust assets
                    [Summary] => The Makati Regional Trial Court has issued an order stopping the Philippine Deposit Insurance Corp. (PDIC) from selling the assets of Unitrust Development Bank. 


The temporary restraining order (TRO) will be in effect for 20 days starting on Aug. 14. 


The court also ordered the PDIC to refrain from awarding or accepting "the rehabilitation program of Philippine Bank of Communications (PBCom) without the requisite stockholders’ approval." 


                    [DatePublished] => 2002-08-17 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 154393
                    [Title] => BSP acts to prevent repeat of Unitrust Bank fiasco
                    [Summary] => Stung by the collapse of Unitrust Development Bank, the Bangko Sentral ng Pilipinas (BSP) wants authority to clear all bank takeovers before the transactions are consummated to prevent similar failures.


BSP Governor Rafael Buenaventura said the central bank is looking into its own rules and regulations to explore mechanisms that would allow it to clear the sale of bank shares before they become final.


                    [DatePublished] => 2002-03-19 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

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                (
                    [ArticleID] => 145985
                    [Title] => Unitrust Bank placed under receivership
                    [Summary] => Unitrust Development Corp., a thrift bank reportedly owned by the group of Japanese businessman Genta Ogami, declared a bank holiday yesterday and was immediately placed under receivership by the Philippine Deposit Insurance Corp. (PDIC).


The 12-branch thrift bank is the first bank to fold up this year.


Ogami is the owner of G. Cosmos Philippines which was ordered by the Securities and Exchange Commission (SEC) to close after it engaged in the sale of unregistered investment contracts.


                    [DatePublished] => 2002-01-05 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1704647
                    [AuthorName] => Rocel Felix
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [3] => Array
                (
                    [ArticleID] => 136376
                    [Title] => BSP orders Unitrust to stop advertisements
                    [Summary] => The Bangko Sentral ng Pilipinas has ordered Unitrust Development Bank (Unitrust) to discontinue its newspaper advertisements announcing its intention to engage in businesses unrelated to its functions as a thrift bank.


At the same time, the BSP asked Unitrust to a meeting today to discuss certain issues raised by the central bank as well as the Ogami group’s business plans.


                    [DatePublished] => 2001-10-12 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

        )

)

abtest

PDIC stopped from selling Unitrust assets

By Ted P. Torres | August 17, 2002 - 12:00am

The Makati Regional Trial Court has issued an order stopping the Philippine Deposit Insurance Corp. (PDIC) from selling the assets of Unitrust Development Bank. The temporary restraining order (TRO) will be in...

Business

BSP acts to prevent repeat of Unitrust Bank fiasco

March 19, 2002 - 12:00am

Stung by the collapse of Unitrust Development Bank, the Bangko Sentral ng Pilipinas (BSP) wants authority to clear all bank takeovers before the transactions are consummated to prevent similar failures. BSP Governor...

Business

Unitrust Bank placed under receivership

By Rocel Felix | January 5, 2002 - 12:00am

Unitrust Development Corp., a thrift bank reportedly owned by the group of Japanese businessman Genta Ogami, declared a bank holiday yesterday and was immediately placed under receivership by the Philippine Deposit...

Business

BSP orders Unitrust to stop advertisements

By Des Ferriols | October 12, 2001 - 12:00am

The Bangko Sentral ng Pilipinas has ordered Unitrust Development Bank (Unitrust) to discontinue its newspaper advertisements announcing its intention to engage in businesses unrelated to its functions as a thrift...

Business