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                    [ArticleID] => 165188
                    [Title] => No BSP nod for P1.4-B loan transfer — UOBP
                    [Summary] => The Filipino shareholders of the then troubled Westmont Bank transferred to themselves the controversial P1.4 billion in loans at a Nov. 23, 1999 board meeting, contrary to their allegations that it was done by United Overseas Bank (UOB) of Singapore.


Westmont Bank, then under the control of the Espiritu group, represented and warranted to UOB that the transfer of the loans was legal and valid and that all the necessary approvals had been secured from the BSP, United Overseas Bank of the Philippines (UOBP) said in a statement.


                    [DatePublished] => 2002-06-19 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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BOTH WESTMONT AND WINCROP

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                    [ArticleID] => 165188
                    [Title] => No BSP nod for P1.4-B loan transfer — UOBP
                    [Summary] => The Filipino shareholders of the then troubled Westmont Bank transferred to themselves the controversial P1.4 billion in loans at a Nov. 23, 1999 board meeting, contrary to their allegations that it was done by United Overseas Bank (UOB) of Singapore.


Westmont Bank, then under the control of the Espiritu group, represented and warranted to UOB that the transfer of the loans was legal and valid and that all the necessary approvals had been secured from the BSP, United Overseas Bank of the Philippines (UOBP) said in a statement.


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abtest

No BSP nod for P1.4-B loan transfer — UOBP

June 19, 2002 - 12:00am

The Filipino shareholders of the then troubled Westmont Bank transferred to themselves the controversial P1.4 billion in loans at a Nov. 23, 1999 board meeting, contrary to their allegations that it was done by United...

Business