The House Committee on Good Government and Public Accountability on Monday asked the Development Bank of the Philippines (DPB) and the Lopez Group of companies to submit within one month the copies of loan agreements and all relevant documents regarding the alleged condonation or write-off.
The House panel, chaired by DIWA partylist Rep. Michael Edgar Aglipay, gave in to the request of DUMPTER PTDA partylist Rep. Claudine Diana Bautista to ask the concerned camps to submit all the relevant documents, including a copy of the corporate rehabilitation plan.
"I manifest that we can request a position paper or any document coming from SPV (Special Purpose Vehicle) Group and we can study their documents for the next hearing regarding this matter and also the contracts with the DBP covering the loans of Lopez Group,” Bautista said.
Bautista is the main proponent of House Resolution No. 1040, which seeks an investigation on the alleged loan condonation or write-off by the DBP in favor of companies controlled by or affiliated with the Lopez family.
“I’d like to ask the Lopez Group Holdings if they can submit the corporate rehab plan because from what I gathered, from information I gathered, it went to corporate rehab last 2003 with Maynilad Water, BayanTel in 2004, in central CATV (SkyCable), the loan was restored in 2004. I would like to ask for a copy of the corporate rehab plan and the decision for this,” she said.
She asked the DBP to provide any SPV-related documents.
Atty. Soraya Adiong of the DBP’s Legal Services Group said all the loan agreements have been turned over to the SPV.
“With respect to the loan agreements , all of these have been transferred to the SPV, which is the Philippine Investment 1 and Philippine Investment 2,” she said.
She said such companies “still exist and operate.”
Adiong’s response irked some House members, saying that the DBP should have the copies of all loan agreements.
“Are you saying that you don’t have any of the loans agreements? Why have you given it to the SPV when you should have it in your custody,” Anakalusugan partylist Rep. Mike Defensor said.
“You should have the copies of those loan agreements because even that, you submit to the BSP for eligibility,” he added.
Adiong said they already turned over the documents. “Even if there are still files, these files have already been destroyed in accordance with the retention policy of the bank.”
"I think there is something wrong, because I have seen some of those loan agreements and I think the DBP is not sure, or at the least, the representatives are not aware of what she is saying.”
Quezon City 4th District Rep. Jesus “Bong” Suntay agreed with Defensor’s observations. “The reasoning being given, these loan documents cover a substantial amount, it is very hard to believe that DBP will not keep a copy of the said loan documents for themselves. Saying it was turned over and whatever was left was burned was truly hard to accept.”
Defensor asked the panel to subpoena all the documents, but Aglipay said the DBP and the LBP should be given “reasonable time” to submit the necessary files.
Representatives of the DBP and the Lopez Group vowed to comply with the panel’s directive.
During the hearing, Lopez Holdings president Salvador Tirona relayed to the Aglipay panel that no such condonation or write-offs of loans were made by the DBP.
Deputy Speaker and BUHAY party list Rep. Lito Atenza said he would move for the termination of the hearing if the proponents of the resolution will not be able to substantiate their allegations and produce documents proving their claims.