The waiting seems forever

Urgently wanted: Any good Samaritan, preferably a public official who is sincere, patient, and with clout to take up the cudgels for the victimized depositors of the Subangdaku Rural Bank (RBS). This is the third piece on the befogged plight of the depositors who are left hanging empty with regard to their claims with the Philippine Deposit Insurance Corporation (PDIC).

It was in mid-December 2008 that the RBS uncannily refused to honor any withdrawal by its ordinary depositors. On the heels of the Legacy Group bankruptcy including its Cebu branches, the RBS depositors got jolted when just as secretly apace, came the RBS demise sometime middle of January 2009. And then came the PDIC takeover under its receivership.

Only some three months ago that the PDIC posted at the RBS office for the depositors - but no individual notice to each - to submit their claims. Until now there has been neither personalized up-date to the poor victims, nor a collective advisory, say, through media, on the status of their unpaid PDIC claims. Incidentally, even the Legacy victims in Cebu, and perhaps nationwide, haven't been paid their time deposits under PDIC coverage.

The dreaded question is whether or not PDIC has funds to make good its obligation within its ambit. Never mind, as yet, the germane question as regards those beyond PDIC's coverage that depend on the assets of Legacy upon proper liquidation.

So now, it's call time for someone special to take up matters with PDIC and/or with the Central Bank. First step could be with the local CB branch in Cebu City, but then, the likelihood is that the more yeoman liaison task is in PDIC and/or CB Central offices in Manila.

One conveys this friendly dare, for the officialdom of Mandaue City, say, Mayor Jonas Cortes, VM Carlo Fortuna, or City Councilors Vic Biaño, Emil Rosal, Daddie Suico, or any other city councilor, to pick up this dare. Better still, for Congresswoman Nerissa Soon-Ruiz to tighten up the slack for the depositors, now being left alone in the dark, to look up to for help.

One has singled them out not only because they have avowedly professed being "servants of the people", but more as big-hearted "taga-Mandaue" good Samaritans. Without over-stressing, the "help" they can put in of their time and efforts in facilitating early payments of the RBS depositors would be self-satisfying for them, as in "vaya con Dios".

Besides, they have the facilities, the manpower to do the tedious gauntlet of follow-up, the logistics, the time, and the official clout to make a gulf of difference from the puny letters of individual claimants that are often ignored, and unanswered.

One recalls that in years past when another local rural bank had been placed under PDIC receivership, one had to make do with patience in follow-ups. Practically burning the lines at the risk of being ignored sometimes, and spurned at other times, at least even the delayed official action had been monitored along the way.

There's no worse impasse than total absence of updates, or any status advisory. Meantime, most smalltime depositors who had eked out savings from small income, say, from "sari-sari" store, or fish vending, or paltry SSS or GSIS pensions, can't touch their RBS deposits. To their consternation and dread, the PDIC may not have enough funds to cover the claims. If the PDIC or CB people were only reasonably sensitive to the harried pulse of the depositors, they could have periodically communicated even standard letters or info to allay their fears.

Or, God, forbid, is the PDIC that cash-strapped that it has not been able to pay until now its legal obligation to the RBS depositors?