Defensor grills DBP over Lopez loans: Laway para sa akin, walang binigay na collateral

Anakalusugan partylist Representative Mike Defensor on Wednesday grilled the Development Bank of the Philippines (DBP) in relation to the soured loans of the Lopez Group of Companies.

At the resumption of the House committee on good government and public accountability hearing on the matter, Defensor asked if the loans have collaterals.

Lawyer Soraya Adiong of the DBP's Legal Services Group admitted that the loans made by the Lopez Group have no collaterals: "Wala, Sir. Not on a specific property..."

Defensor then said "Samakatuwid, laway para sa akin. Walang ibinigay na collateral, 'yung kanilang pagkatao ang ginamit niya..."

"Isang bilyon ho ito... ang hirap hong umutang eh kahit na ho 'yung bridge facility, kailangan maglagay ka ng collateral o garantiya tungkol dito," Defensor added.

Adiong said the DBP has been considering the net worth of the person or the corporation when borrowing money.

Earlier, the DBP has said the soured loans of the Lopez Group have not been written off. It said the non-performing debts have been passed on to global financial services firm Lehman Brothers Asia Limited.

The next hearing on the issue is scheduled on February 23.—AOL, GMA News