BORLONGAN AND BARTOLOME

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                    [ArticleID] => 137603
                    [Title] => Urban Bank top brass responsible for its closure, says Ombudsman
                    [Summary] => The Office of the Ombudsman has placed the blame for the closure of Urban Bank Inc. squarely on its former president, Teodoro Borlongan Jr., and chairman Arsenio Bartolome III.


"It bears stress that what precipitated the closure (of Urban Bank) was the declaration of a bank holiday by the bank’s pricipal officials (Borlongan and Bartolome) concurred in by the directors," Ombudsman Aniano Desierto said in a decision on a complaint lodged against the Bangko Sentral ng Pilipinas by former Quezon City Rep. Michael Defensor.


                    [DatePublished] => 2001-10-23 00:00:00
                    [ColumnID] => 133272
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                    [SectionName] => Business
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                    [ArticleID] => 96455
                    [Title] => Urban Bank directors testify versus Bartolome, Borlongan
                    [Summary] => Top officials of failed Urban Bank face more legal troubles as directors of the bank complained they were kept in the dark by Urban Bank chairman Arsenio Bartolome III and president Teodoro Borlongan as to the real financial condition of the bank.


In an affidavit submitted to the Makati Regional Trial Court, 10 directors of Urban Bank testified they were never informed that the bank was in financial straits, prompting a number of them to even deposit millions of pesos just a few days prior to the closure of the bank.


                    [DatePublished] => 2001-03-19 00:00:00
                    [ColumnID] => 133272
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Urban Bank top brass responsible for its closure, says Ombudsman

October 23, 2001 - 12:00am

The Office of the Ombudsman has placed the blame for the closure of Urban Bank Inc. squarely on its former president, Teodoro Borlongan Jr., and chairman Arsenio Bartolome III. "It bears stress that what precipitated...

Business

Urban Bank directors testify versus Bartolome, Borlongan

March 19, 2001 - 12:00am

Top officials of failed Urban Bank face more legal troubles as directors of the bank complained they were kept in the dark by Urban Bank chairman Arsenio Bartolome III and president Teodoro Borlongan as to the real...

Business