QC shuts down seedling bank

Posted at 12/09/2013 3:19 PM | Updated as of 12/09/2013 3:19 PM

MANILA – The Quezon City government on Monday shut down the Manila Seedling Bank Foundation Inc. (MSBFI) due to unpaid taxes.

The city government said the MSBFI, located at the corner of Epifanio delos Santos Avenue (EDSA) and Quezon Avenue, owes about P57 million in taxes covering 2001 to 2011.

Personnel from the QC Department of Public Order and Safety (DPOS) locked down the gate of the MSBFI compound after a cease and desist order was given to the tenants last Friday.

The tenants were being given an alternative location in Quezon Memorial Circle but they insisted on staying in their original area. – report from Johnson Manabat, dzMM