Manila: The Philippine Deposit Insurance Corporation (PDIC) announced that it successfully completed the filing of 46 asset distribution plans (ADPs) with various liquidation courts across the nation last year. This achievement marks the fulfillment of its annual target and facilitates the expedited release of payments to creditors of closed banks.
According to Philippines News Agency, the PDIC specified that the filings consist of 20 final ADPs and 26 partial ADPs, each representing significant progress towards court-approved payouts. ADPs serve as the essential legal frameworks for distributing assets from closed banks, detailing allocation based on estimated realizable values as of a particular cut-off date.
The PDIC emphasized that all distributions are carried out in strict accordance with the Rules on Concurrence and Preference of Credits under the Philippine Civil Code, as well as other relevant banking and liquidation laws. Depending on how far along the liquidation process is, the PDIC files either partial ADPs for specific assets that have already been realized or liquidated or final ADPs that account for all remaining assets, setting the stage for the conclusion of the bank’s liquidation.
Once sanctioned by the liquidation courts, these ADPs will authorize the PDIC, acting as the statutory liquidator of closed banks, to distribute liquidation proceeds and recovered bank assets to creditors in compliance with the law. This will bring the long-awaited payments closer to release.
“Every ADP we file brings creditors and uninsured depositors closer to receiving what is lawfully due to them. This is at the heart of the mandate of the PDIC – ensuring that closed bank stakeholders are paid in a timely, transparent, and orderly manner. Meeting our ADP target for 2025 reflects the Corporation’s strong momentum in advancing liquidation proceedings and settlement of claims of creditors and uninsured depositors,” stated PDIC President and Chief Executive Officer Roberto Tan.
As of the end of 2025, a total of 303 closed banks, comprising 1,245 banking units, remain under PDIC liquidation. This includes 64 closed banks whose final ADPs are pending approval with their respective liquidation courts.
