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Rep. Mike Defensor urges DBP to explain Lopez companies’ cleared debts to Pres. Rodrigo Duterte

If it is true that there was no irregularity in the selling of Lopez’s bad loans, then Defensor recommended to Herbosa to give Duterte an explanation about it.

On Tuesday, AnaKalusugan Rep. Mike Defensor urged Development Bank of the Philippines (DBP) official to explain the Lopez family‘s clearing of debts to President Rodrigo Duterte.

In the latest hearing of the House Committee on Good Government and Public AccountabilityDBP president and CEO Emmanuel Herbosa said it is legal to sell bad loans even without a certificate of eligibility from the Bangko Sentral ng Pilipinas (BSP).

It further claimed the legality of the Lopezes’ loan.

If it is true that there was no irregularity in the selling of Lopez’s bad loans, then Defensor recommended to Herbosa to give Duterte an explanation about it.

“Bakit hindi nyo po kausapin ang Presidente at ipaliwanag kung ganyan ang inyong paniniwala,” Defensor advised DBP.

The probe against DBP and Lopezes began after Duterte’s allegation regarding the latter companies’ unpaid debts.

Duterte warned to block the Network’s franchise unless the Lopezes could settle their obligations with the government.

Presidential spokesperson Harry Roque’s release of the matrix of the alleged debts of Lopezes firms and transactions with DBP came after Duterte’s warning.

 In the same hearing, DBP also is questioned why they sold the Lopezes’ loans even though it is still a good account.

The probe against DBP and Lopezes began after Duterte’s allegation regarding the latter companies’ unpaid debts.

Duterte warned to block the Network’s franchise unless the Lopezes could settle their obligations with the government.

Presidential spokesperson Harry Roque’s release of the matrix of the alleged debts of Lopezes firms and transactions with DBP came after Duterte’s warning.

In the same hearing, DBP also is questioned why they sold the Lopezes’ loans even though it is still a good account.

DBP vice president Romeo Aguilar then said that DBP had a clearing of their records, which pushed them to sell non-performing loans.

Based on the documents submitted by DBP in Congress, they sold P9.6 billion worth of bad loans, including the debt of the Lopezes.

The P1.66 billion debt of the Lopezes was bought by the Lehman Brothers at P1.069 billion only.

The Lopezes then paid P1.25 billion to Lehman Brothers to settle their debt.

Aguilar then said that DBP had a clearing of their records, which pushed them to sell non-performing loans.

Based on the documents submitted by DBP in Congress,

The probe against DBP and Lopezes began after Duterte’s allegation regarding the latter companies’ unpaid debts.

Duterte warned to block the Network’s franchise unless the Lopezes could settle their obligations with the government.

Presidential spokesperson Harry Roque’s release of the matrix of the alleged debts of Lopezes firms and transactions with DBP came after Duterte’s warning. 

In the same hearing, DBP also is questioned why they sold the Lopezes’ loans even though it is still a good account.

DBP vice president Romeo Aguilar then said that DBP had a clearing of their records, which pushed them to sell non-performing loans.

Based on the documents submitted by DBP in Congress, they sold P9.6 billion worth of bad loans, including the debt of the Lopezes.

The P1.66 billion debt of the Lopezes was bought by the Lehman Brothers at P1.069 billion only.



The Lopezes then paid P1.25 billion to Lehman Brothers to settle their debt.

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