![]() ![]() ![]() Hilado passed on the baton to Ramon Del Rosario, who is now chair and CEO, while Chito Salazar-who has grown the group’s education business into a national enterprise over the last two decades-has assumed the role of president and chief operating officer. It is time to fade away, And I am so fortunate to do that when the company has just completed its best year,” Hilado said on Tuesday as his retirement was announced at Phinma’s stockholders’ meeting. He had seen and led Phinma through its toughest times, having served as director since 1969 and chair since 2003. Oscar Hilado, described by those who know him best as “a true gentleman and a visionary leader,” bowed out as chair of Phinma Corp. Naturally, the authorities want to have a word with him about his wife who absconded to Japan. He apparently didn’t show up for work on Friday and just sent in his resignation letter on Monday. That’s basic.)Īs for the latest rumors, well … word on the street is that the rogue banker’s husband is also an employee of another large financial institution working as-get this-a compliance officer. (So clients should never be too trusting of bank officers, no matter how good the offer. In any case, Biz Buzz hears that the bank never received the missing money as payment for any investment or service. And it will continue to adhere to these privacy laws, we understand. Why the sealed lips? Simple: The bank is constrained from doing so by the country’s rigid bank secrecy laws. Over the past few days, the universal bank’s leadership has avoided giving out official statements or making a comment on the report that one assistant vice president successfully duped people into parting with as much as P100 million, supposedly to be placed in a nonexistent investment instrument by the bank. Camus Complying with the lawĮven after a rogue employee broke the law by running off with other people’s money, her former employer is not about to break any in the process of protecting its reputation and maintaining its fiduciary responsibilities to clients. ![]() Illinois Bankers Life Assurance Company, a party wrote a check on the last day that his insurance premium payments were due, and the check, had it been valid, would have satisfied the debt as payment in due course.“The company has conducted due diligence and ensured a lawful transfer of ownership thereof,” Century said. The term payment in due course most commonly arises in the context of a debtor’s check to satisfy a debt or a bill. #IN DUE TIME CODE#Uniform Commercial Code - Negotiable Instruments § 25-3-302. The holder of the negotiable instrument, known as a holder in due course, must have took the instrument for value, in good faith, without notice that the instrument is overdue or has been dishonored, without notice that the instrument is unauthorized, and without notice of any legal claims against the instrument. Payment in due course is the payment by a debtor on a negotiable instrument which discharges the negotiable instrument, even though the payment is made on or after the maturity date of the negotiable instrument. ![]()
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