MikeLigalig.com

Is it greed, hate or jealousy? that this guy must die? The truth is that foreigners have no rights here. They can`t owned properties without marriage, they have to pay for their stay even though they`re married.
A Filipino citizen could build the biggest house in Germany or make the biggest business in town, they could stay lifetime without paying a single cent.They get all the rights, what the foreigners don`t have here in the Philippines.Is it not unfair? I know what Iam talking about .

To all,


Martin Williams was not the only one murdered in Bohol 3 years ago an old german from Booy, 2 years ago the german couple in Baclayon ,20 years ago our canadian friend Steve and many many more.What are the motives?

Hi Tess, Merry Christmas ikaw man diay si Hofelina komusta na mga bata?
Viele Grüsse aus Duisburg



Esa

Hello Bambi, thank you and have a good time in LA.



To Michael,Angie &Mr. Bean:Magkita unya ta didto naa ra man ko sa Tagbilaran


Esa

My number is in your pm

Mga Higala naa ko sa Bohol hangtud sa June

Tua pod ko sa New years day gyod.Unsa man magmeet ta ka Gelyan & Paul?

Tanang foreigners nga nagpuyo sa Bohol naa ilang kuarta diha sa Rural Bank.Sa lunes moanha na ang taga PDIC sa Cebu aron mag settle aning mga problema sa Rural Bank apil na ang Tagbilaran.Out of 10 Rural Banks,7 na ang gihatag sa PDIC.Maghulat pa ta sa Tagbilaran

3 more rural banks padlocked

By Doris Dumlao
Philippine Daily Inquirer
First Posted 04:30:00 12/13/2008

Most Read
Other Most Read Stories x

      Business
          o Oil down nearly $2
          o San Miguel eyes 60% of Liberty Telecom
          o Toyota to suffer $1.1B loss for 2nd half
          o SM group gets license for gaming hub
          o SM to open world's third-biggest mall
          o GM slashes N America Q1 output by 60%
          o Financial crisis to worsen in 2009 - IMF
          o Peso retreats to P48:$1 on US woes
          o 3 more rural banks padlocked
          o Businessmen join Ayala rally but lie low
          o Peso falls again
          o 4 rural banks closed; 4 declare holiday
        Business Most Read RSS
      Close this

The central bank on Friday padlocked three more rural banks affiliated with the Legacy group, using the leeway recently obtained from the Supreme Court in taking prompt action against insolvent banks.

Placed under receivership were Bank of East Asia based in Cebu City, First Interstate Bank based in Tacloban City, and Philippine Countryside Rural Bank based in Cebu City.

Earlier this week, four other banks of Legacy group were placed under receivership of Philippine Deposit Insurance Corp. (PDIC): Rural Bank of Paranaque, in Parañaque City in Metro Manila; Rural Bank of Bais, in Negros Oriental province; Pilipino Rural Bank, in Cebu province; Rural Bank of San Jose, in Batangas province; and Rural Bank of Nueva Caceres, in Naga City in Camarines Sur province.

The central bank, Bangko Sentral ng Pilipinas (BSP), said in a statement that it had been monitoring these banks well before the global financial turmoil began, because of potentially unsafe and unsound banking practices.

The Legacy group had engaged the BSP in a legal battle that constrained the BSP from taking action based on the findings of deficiency submitted by its examiners. Earlier rulings by lower courts favored the banks’ pleading for due process, but on Nov. 24 the Supreme Court issued a temporary restraining order against implementation of decisions of the Court of Appeals and the Regional Trial Court of Manila, paving the way for the BSP to take action against problematic banks.

The BSP reiterated that the closed banks represented a tiny fraction of the banking system and that the Philippine banking system remained stable, highly capitalized and highly liquid.

In a separate statement, the Chamber of Thrift Banks supported the BSP decision to padlock problematic banks and disclose which had voluntarily suspended operations. Edited by INQUIRER.net

   

Bank declares "holiday"
Legacy on rehab plan
   
   

BANK HOLIDAY! As early as 8 a.m. yesterday, motorcycle riding depositors were already at the premises of Pilipino rural Bank along CPG Ave., this city to check the veracity of the report that the bank declared a "bank holiday". Truly, they found the bank closed after dyRD repoerters made an exclusive check on the bank holiday early yesterday morning. Foto DANNY REYES       

Averting a possible panic among its thousands of Boholano depositors that could cause substantial withdrawals, the local branch of Pilipino Rural Bank (PRB) declared a "bank holiday" starting last Monday.

Bank depositors were surprised to see the "bank holiday" notice
posted at its entrance without a definite period when its operations will resume.

PRBank is among the so-called subsidiary rural banks of the Legacy Group, a financial firm that is also currently caught in a situation of insolvency.

The Bangko Sentral ng Pilipinas (BSP) is trying to close down the 11 rural banks of Legacy Group for its capital deficiency. In fact, another branch - the Philippine Countryside Rural Bank in Cebu - also declared a "holiday" yesterday.

A bank that is incurring a liquidity problem (short of cash) declares a "holiday" in order to avoid a possible "bank run" where depositors who are aware of the firm's solvency situation will panic and pull out their deposits.

According to the notice posted at the PRBank entrance, management is awaiting an emergency loan from the Bangko Sentral to service all transactions of its clients.

Depositors who were alarmed of the sudden closure of the bank since Monday called up bank manager Delia Duliguez on her mobile and apartment telephone to no avail.

Duliguez was not at her apartment in Calceta Street, this city, when checked by the Chronicle yesterday morning after the top rated "Inyong Alagad" and "Pulso" programs of dyRD were jammed with depositors who sounded panicky on the status of their banks deposits.
         

Many depositors were enticed to deposit at the PRBank with their "double your money in five years" while its holding company reportedly marketed a more juicy offer of "double your money in three years." This twin offer received a resounding patronage from Boholanos, not to mention their money back guarantee on car and motorcycle loans.

A bank depositor from Jagna town who monitored the dyRD report while dropping at a cellphone shop rushed to the Chronicle editorial offices mid-morning yesterday to confirm that she deposited P2 million out of her retirement benefits and savings from her children working in the United States due to the high interest rate offered by the bank.

The depositor availed of the bank's product that guarantees to double the deposited amount after a period of five years.

She said Duliguez was her friend but she started to worry when all her attempts to call the bank manager was unanswered.

A similar attempt to call up the bank's "new accounts" head Bebelyn Ferolino also proved futile, the depositor said.

Several depositors who called up Station dyRD said it worries them that the bank's management has not issued an official statement regarding the financial status of the bank and their deposits.

"LEGACY ON REHAB"

Antonio "Tony" Wycoco, vice president and marketing division head of Legacy Group's pre-need insurance, said in an interview over dyRD yesterday that his company is currently undergoing a rehabilitation plan.

Wycoco said Legacy's pre-need company offers another savings scheme that doubles the money of investors within a period of 3 years.

Hence, an investment of P100,000 will become P200,000 after three years. It will be paid out in checks issued to the investor on a quarterly basis.

According to Wycoco, Legacy management is requesting a 2-month moratorium on all interest and principal investment payments starting last November.

He said their investment product is entirely different from that of its sister company PRBank.

However, since both companies are in financial trouble, the group's assets may be utilized in paying out investments and liabilities.

Wycoco disclosed that the management of Legacy may opt to apply for dissolution with the Securities and Exchange Commission (SEC), in order to payback their depositors of their investments, but, minus the interests.

"The company already discussed the possibility that if the company could not rehabilitate, then the most likely step to return the investors' capital is to apply for dissolution," he said.

Under the process of dissolving the company, its assets will be liquidated to pay out investors. He warned, however, that this process will take time.

PRBank deposits are covered by the Philippine Deposits Insurance Corporation (PDIC) which insures up to P250,000.

"HIGH RISK"

Wycoco admitted that they made it a company policy to inform their investors that they are venturing into a high risk investment.

"It is a high yielding investment but it also involves high risks. We sell it to our investors honestly," he stressed.

The Legacy officer said their company will be paying an additional 6-percent interest for the 2-month delay of payments.

LOCAL BANKERS: NO COMMENT

The Bohol Bankers Association declined to issue its official statement with regards to the financial distress encountered by Pilipino Rural Bank which has a branch operating in the city.

Union Bank manager Marius Borja told the Chronicle last night the association wanted to check on the matter in order to comment regarding the bank holiday.

China Bank manager Rodney Lumuthang who sits as president of the bankers association said that Bangko Sentral ng Pilipinas (BSP) was not informed of the bank holiday by PR Bank management. This was the statement issued by the financial and consumer department of BSP-Manila when contacted by Lumuthang.

The local bankers association would usually issue public statement when bank holiday is declared in any of the banks which belong to their association.

Dear Miss Precious ,
thanks for your information . Do you know , it was already published
in newspaper ?
Or, is it still under investigation ?

esa

Hallo ,
does someone know any news about the 3 tourist ?

esa

Hi Gelyan sorry nga dili ko mopost ug picture sa balay kay naglikay akong husband nga sakyan ug agent mas maayo nga makita nimo ang balay.

Esa

Are u here in Tagbilaran City ?
I could give u my cell-phone number .

House & lot for sale in Tagbilaran City, 300sq all in all.4 bedrooms, 1 big livingroom,all-over screened,24 hours water from the city,cable tv, good neighborhood, price:1.9m ( 30.000 EUR ) still negotiable.Direct buyers only

Hello!

Who are the tennis-playing members of TB?

My husband would like to play when we are

there just only for fun.Who is interested? &

where are your tennis clubs?

BR
Esa

  To all sana,sano & the expats of TB

  Thanks a lot for the great welcome

  & that I could join you in this forum.


 
See you soon in Tagbilaran

Where's the meeting point?

hello I'm esa.nice to communicate with all in this forum and discuss interesting topics.I'm in germany and in tagbilaran.
Hope to get plenty of informations from all of you.Regards from cold Germany