Prudentialife has 30 days to infuse fresh capital

Posted at 09/22/12 05:46 PM
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Atty. John Apatan, spokesperson of the Insurance Commission said plan holders can only wait until the 30-day period given to Prudentialife to come up with the infusion plan, is up.

Apatan said Prudentialife's assets will be sold off to pay creditors and plan holders under a process called liquidation if the company fails to meet the deadline.

But apatan has ruled out chances of plan holders getting their claims in full. – ANC Dateline Philippines, September 22, 2012