  |
|
|||
|
|
||||
|
PROFILE
The Board of Liquidators (BOL) is a government agency under the Office
of the President of the Philippines, created by virtue of Executive
Order No. 372, dated 24 November 1950, which has the force and effect of
law, being issued pursuant to the authority granted to the President of
the Philippines in Republic Act. No. 422, otherwise known as the
Re-organization Act of 1950.
On 15 July 1998, by virtue of Executive Order No. 3, BOL was reverted to
the Office of the President to its former status as an attached agency. There under, the former composition of its Board of Directors
is maintained, which is composed of the Executive Secretary or his
representative as Chairman, and two (2) Members who shall be appointed
by the President.
The
mandates of BOL focus mainly on the liquidation of government assets and
payment and liabilities and the closure of the books of accounts of
abolished, government corporations and agencies. Thus far, twenty-one
(21) have been transferred to BOL for administration and liquidation,
out of which four (4) remain to have active accounts that are managed by
separate divisions, while dormant accounts of various defunct offices
are administered by a separate division.
BOL
is continuously disposing of properties through awards and negotiated
sales of NAFCO lands with intended beneficiaries under the law as
veterans and qualified applicants and occupants, and which are located
in the cities of Davao, Zamboanga, Cebu and Tarlac and the Provinces of
Davao del Norte, Davao del Sur, Davao Oriental, Maguindanao, Quezon and
Basilan.
BOL
also handles LASEDECO settlement lands located in the cities of General
Santos and Koronadal and in the Municipalities of Polomolok, Tupi,
Tampacan, Banga, Surallah, Sto. Niño, and Norallah in South Cotabato;
Municipalities of Isulan, Esperanza, Laguilayan, and Bagumbayan in
Sultan Kudarat; and in the Municipalities of the Mallig Plains in
Isabela in favor of original settlers and allocatees who have settled in
said locations. In essence, awards of lands to these particular people fully support the localized peace process and efforts towards realizing land reform in these areas as part of the on-going program of the government. Other assets transferred from the Reparation Commission (REPACOM) and the National Coal Authority (NCA) constitute the major liquidation process of the BOL up to now, and the latter's properties in the coal terminals are scheduled for disposition. BOL is also disposing and liquidating the assets and properties of different abolished agencies and corporations, like the National Tobacco Corporation (NATOCO), National Coconut Corporation (NACOCO), National Food Products Corporation (NFPC), National Marketing Corporation (NAMARCO), and the Abaca Corporation (ABACORP), and which are located in Isabela and Cagayan Provinces, Kalinga Apayao, Buenavista and San Francisco, Quezon; Tigaon and Pasco, Camarines Sur; and the Leyte Sab-an Basin Development Authority (LSBDA) in Tacloban City and Isabel, Leyte.
|
||||
