PDIC to sell residential lots via public e-bidding

THE Philippine Deposit Insurance Corp. (PDIC) announced it will conduct an electronic public bidding (e-bidding) for the sale of residential lots located in Benguet, Bulacan, Bukidnon, Lanao del Norte, Misamis Oriental, Nueva Ecija and Tarlac, with an aggregate minimum disposal price of P33.2 million via its e-bidding portal at https://ebns.pdic.gov.ph/ on April 23 on an “as-is, where is” basis.

Online bids shall be accepted by the PDIC Real and Other Properties Acquired (Ropa) Disposal Committee from direct buyers who registered in the e-bidding portal. Online bids may be placed between 9:00 a.m. on April 22, 2021 and 1:00 p.m. on April 23. The e-bidding portal may also be accessed by clicking the “Assets for Sale” icon in the PDIC website homepage at www.pdic.gov.ph.

Of the 29 residential properties up for bidding, nine are lots with improvements and two lots will be sold together. The properties are located in Benguet, Bulacan, Bukidnon, Lanao del Norte, Misamis Oriental, Nueva Ecija, Pampanga and Tarlac.

The complete list and description of the properties, requirements, ebidding process and Conditions of Bid are posted on the e-bidding portal. Bid documents such as the required format of the Special Power of Attorney and Secretary’s Certificate, when needed, may be downloaded from the site.

PDIC, as liquidator of closed banks, holds various asset disposal initiatives such as public biddings and negotiated sale. Proceeds from the sale of closed banks’ properties are added to the pool of liquid assets of these banks for distribution to uninsured depositors and other creditors in accordance with the rules on concurrence and preference of credits. The disposal of these assets increases the chances of recovery of uninsured depositors and creditors of their trapped funds. Meanwhile, proceeds from the sale of corporate assets are added to the Deposit Insurance Fund, PDIC’S main fund source for payment of valid deposit insurance claims.