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PDIC starts liquidating Orient Bank after 2 years.
Two years after its closure, Orient Commercial Banking Corp. is now under liquidation, finally facilitating the processing and partial payout of funds to depositors.
"We have now entered the liquidation stage and that means some depositors can now get a portion of their funds," outgoing Philippine Deposit Insurance Corp. (PDIC) president Ernest Leung yesterday said.
Since the PDIC board has already placed the bank under receivership, it is no longer important for all of Orient Bank's depositors to agree on the plan, he said.
Mr. Leung also said the situation of Orient Bank is different from that of recently closed Prime Savings Bank where the …
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