PMT Forum
Do you want to make money today? :)

Update on the bank run of Legacy rural banks

FutureGizmo · 462 · 113871



bigoink

  • Probie
  • **
    • Posts: 24
    • Likes Received: +0/-0
Where are you going to put it ,once you get it back .......in the other rural banks ?




quantumrock

  • Forum Tambay 200
  • ***
    • Posts: 259
    • Likes Received: +0/-0
Court interference brought about rural-bank runs?      
Written by Nonnie Pelayo / News Editor  
Tuesday, 23 December 2008 22:32

NINE rural banks in various parts of the country were recently closed for unsafe and unsound banking practices by the Bangko Sentral ng Pilipinas (BSP). The BSP could have acted sooner and prevented the closed banks from getting more deposits which the Philippine Deposit Insurance Corp. (PDIC) would now have to cover and pay. When a bank is closed by the BSP, it is not its officers, directors and stockholders who pay back the depositors but the government through the PDIC.

That the nine rural banks were padlocked for capital deficiency and for allegedly engaging in unsound banking practices is nothing new. Though not pervasive in the banking industry, there have been, over the years, a number of banks closed or placed under receivership and liquidated.

What is, however, unprecedented and unparalleled is how the banks closed were able to secure from Branch 28 of the Regional Trial Court in Manila a temporary restraining order (TRO) which was converted into a writ of preliminary injunction enjoining the BSP examiners from submitting their Report of Examination or any other similar report prepared in connection with their examination on these banks to the Monetary Board; and in case such a report has been submitted to the Monetary Board and its members, the latter are enjoined and restrained from acting on the basis of the said report. These TRO and injunction effectively prevented the BSP from closing the nine banks sooner...

http://businessmirror.com.ph/index.php?option=com_content&view=article&catid=28%3Aopinion&id=3729%3Acourt-interference-brought-about-rural-bank-runs&Itemid=64


sikilim

  • Newbie
  • *
    • Posts: 2
    • Likes Received: +0/-0
Companies and entities contesting the voluntary dissolution will be given anywhere from 30 to 60 days after the order.


How can I, a small depositor of Legacy Pre-Need BB contest the voluntary dissolution of Legacy? Such an innocent client, how can I do? Anybody want to contest too? Let's bolt it!



waterfront

  • Forum Expert 500
  • ****
    • Posts: 547
    • Likes Received: +0/-0
i think that the best way to go about this scam by CDLA is to file a mass criminal lawsuit. his crime is not just an ordinary one. it can fall into the category of "economic sabotage" since it involved many banks and financial institutions (10 different legacy companies) which is a non-bailable crime. furthermore, a criminal case goes hand in hand with the civil aspect. if it can be proven in court that those assets were hurriedly tranfered to dummies, the court can cancel all the transactions and might award those assets to the investors that he swindled. i think that he is afraid of this "criminal case scenario" that is why he kept on sending his lawyer to talk to investors nonsense issues just to buy time.



waterfront

  • Forum Expert 500
  • ****
    • Posts: 547
    • Likes Received: +0/-0
As statutory receiver and deposit insurer, PDIC had to examine and evaluate over 135,000 deposit accounts, with the Central Bank's simultaneous closure of 14 other banks including RBPI.

the 135,000 depositors of the 14 closed banks will translate to only an average of 9,643 deposit accounts per bank. if PDIC is insinuating that it will take them a very long time to pay the claims because of this number, think of how long will it take for them to process the claims if a big universal bank say, METROBANK will closed down with several millions of deposit accounts.

i think that they are using some flimsy excuse to delay the payments of claims because some of the closed banks do not have that many depositors. they should act and pay as early as possible so that the public will not panic and affect the other rural banks.



AbysmalSpecter

  • Forum Champion 800
  • ****
    • Posts: 815
    • Likes Received: +0/-0

i think that the best way to go about this scam by CDLA is to file a mass criminal lawsuit. his crime is not just an ordinary one. it can fall into the category of "economic sabotage" since it involved many banks and financial institutions (10 different legacy companies) which is a non-bailable crime. furthermore, a criminal case goes hand in hand with the civil aspect. if it can be proven in court that those assets were hurriedly tranfered to dummies, the court can cancel all the transactions and might award those assets to the investors that he swindled. i think that he is afraid of this "criminal case scenario" that is why he kept on sending his lawyer to talk to investors nonsense issues just to buy time.


Until this time, I am convinced that the RBOP bank run was the result of a demolition job.  Prior to the official declaration of bank holiday, there have been a sustained series of anti-Legacy "write ups" by paid journalists.  Ang daming natakot.  If only depositors did not gave in to the fears that the articles tried to create (and successfully created) wala sanang bank run, walang bank holiday and we are still getting our monthly interests.

Aside from red tape, one of the things that hamper the growth of business is the crab mentality of people.  And also the presence of so called journalists who have perfected the art of editorial prostitution - they can write everything, if the price is write, este right.



waterfront

  • Forum Expert 500
  • ****
    • Posts: 547
    • Likes Received: +0/-0
And also the presence of so called journalists who have perfected the art of editorial prostitution - they can write everything, if the price is write, este right.

sana maputol ang mga kamay nila ni "super lolo or marka yawang angeles na bawang" this coming yearend para hindi na sila makasulat ulit sa kahit anong mga newpapers. mga b_ysit na journal mercenaries or prostitutes iyan!   :D :watchuthink:



 


PMT Shoutbox

Refresh History
  • Post only questions or comments here. Advertisements NOT ALLOWED.
  • Niel Jhacoubs: To bpc85 kung nakalagay ang inyong names sa beneficiary list ng iyong ama kay may makukuha po kayo.
    Nov 28, 2019, 02:18 PM
  • Niel Jhacoubs: Hellooooo, its been a while. :)
    Nov 28, 2019, 02:16 PM
  • miakashidou31: hi , meron po ba ditong nagta transfer sa paypal?
    Nov 05, 2019, 01:46 PM
  • whennedy: good noon po
    Oct 18, 2019, 12:04 PM
  • edzlpdac: goood day po sa lahat!
    Oct 12, 2019, 03:37 PM
  • bpc85: ask lng sana ako kung may makukuha ba kami ng Mama ko at ako or mga kapatid ko sa benepisyo ng aming Ama bilang membro ng AFPSLAI. thank you po.
    Sep 27, 2019, 12:52 PM
  • bpc85: Hi guys, im new here,.
    Sep 27, 2019, 12:52 PM
  • Anaperdi: Hi just want to know if meron dito who is into boundary hulog ng motorcycle? For mga riders ng courier. Pwede ba magpashare how it works? Naisip ko lang baka pwede ko ibusiness, meron na pala mga posts online pero di pa clear ang system sa akin. thank  you sa makakapansin
    Sep 21, 2019, 11:32 AM
  • Anaperdi: Hi newbie here..
    Sep 21, 2019, 11:19 AM
  • jprios: May contact ba kayo kung sakali?
    Sep 18, 2019, 06:11 PM
  • jprios: Sino pwedeng mahiraman dito?
    Sep 18, 2019, 06:09 PM
  • kfg52: Present!
    Sep 15, 2019, 07:26 PM
  • juju31: san po ba may nag papahiram dito
    Sep 14, 2019, 07:18 PM
  • juju31: hello
    Sep 14, 2019, 07:18 PM
  • FutureGizmo: Thanks julz! Medyo ganun nga trabaho namin ngayon, to monitor spam posts kasi ang daming spam bots. But thanks for reporting. Auto-ban agad ang spammers sa amin haha
    Sep 07, 2019, 12:17 PM
  • julz: @FutureGizmo si @nikkikv18 just posted more than 10 posts about porn sites. hay, spam.
    Sep 03, 2019, 01:05 PM
  • Cid_brent: sino po dyan pwede magbigay send ng paypal funds and I will pay you using gcash?
    Aug 25, 2019, 08:58 PM
  • Meghan91811: Sino po may alam about Rice Farming...
    Aug 25, 2019, 07:44 AM
  • roselove: hello po sa inyo... newbie here
    Aug 06, 2019, 03:31 PM
  • Niel Jhacoubs: Sino palaging active dito?
    Jul 30, 2019, 04:15 PM
  • dagocjasonrey: Anong update dito?
    Jul 22, 2019, 08:49 PM
  • mark_Lee: anong bago dito
    Jun 28, 2019, 01:03 AM
  • mark_Lee: balita
    Jun 28, 2019, 01:03 AM
  • Lovelyprincess72: hi everyone , I'm newbie here
    Jun 27, 2019, 02:36 PM
  • Niel Jhacoubs: Musta?
    Jun 26, 2019, 01:43 PM
  • Forexanalysis: Hello
    Jun 25, 2019, 06:33 PM
  • Niel Jhacoubs: Hello sa mga online jan! :)
    Jun 15, 2019, 02:58 PM
  • oragon: :applause:
    May 20, 2019, 03:53 PM
  • FutureGizmo: Thank you for reporting those spam posts, oragon! Spam posts now deleted.
    May 20, 2019, 01:59 PM
  • oragon: Admin kindly monitor some peps! posting and sharing inappropriate nude photos and website links
    May 20, 2019, 01:52 PM
  • @culinary10: Hello I am new here! Regarding sa bdo life insurance for 8 years, pwede pa kaya ma refund yung binayad ko na 50k last year? Gusto ko sana icancel kasi lack of financial na, last may 15 2018 po un nag start ako ng life insurance, pinili ko annually kaso etong may 15 2019 wala nako ma ipay so gusto ko sana icash out, may alam ba kayo kung pano marerefund?
    May 17, 2019, 07:56 PM
  • FutureGizmo: Hi Sonny, the posting issue is now resolved. Thanks for informing us! We're currently testing a new, mobile-ready theme so let us us know kung may problema pa sa Forum. :)
    Apr 04, 2019, 10:40 AM
  • sonny.wapak: Nakaka receive din ba kayo nito pag gawa ng new post? "Please try again. If you come back to this error screen, report the error to an administrator."
    Apr 03, 2019, 10:56 PM
  • leonine_zafiro: what product nun?
    Apr 01, 2019, 10:25 PM
  • dhondiex27: hi
    Mar 30, 2019, 10:55 PM
  • lusart: jayrob i agree 200%. hulog ng langit organico. legit na legit
    Mar 29, 2019, 09:08 AM
  • palemelch: Hi
    Mar 28, 2019, 04:08 PM
  • O.C.W._AK: Magandang Araw sa Lahat! Blessings! (",)
    Mar 28, 2019, 08:42 AM
  • thor15: hello everyone, newbie here
    Mar 25, 2019, 01:47 AM
  • captjaylo: present newbie here
    Mar 22, 2019, 10:06 AM
  • balboagilbert26: hello Guys .. Newbie here
    Mar 21, 2019, 10:55 PM
  • businesswoman2019: @jefsanity nag inquire na po ako pero di sila nagdidisclose. Yung branch po kasi na target ko, currently building pa.
    Mar 21, 2019, 04:27 PM
  • jefsanity: @businesswoman2019, much better inquire ka na lang sa admin nila.
    Mar 21, 2019, 01:51 PM
  • businesswoman2019: Hello! Any idea how much ang stall sa waltermart. 2m x 2m
    Mar 21, 2019, 08:28 AM
  • John Neil: Looking for an accredited iron foundry
    Mar 17, 2019, 03:19 PM
  • jayrob: Mark_Lee ung organico legit po yan..  Member din AQ..
    Mar 17, 2019, 12:57 AM
  • perlymelad: Hello po! Need advice, why my new MLM leaders failing?
    Mar 14, 2019, 08:51 PM
  • perlymelad: Present
    Mar 12, 2019, 07:53 PM
  • kennethmauricio: Hi saan po dito pwede mag post ng for sale properties?
    Mar 11, 2019, 07:58 PM
  • jefsanity: @mark_lee isipin mo anu passion mo at skills mo...
    Mar 11, 2019, 06:52 PM