Five senators block sale of SSS shares in E. PCI Bank

By Sammy Martin

Oct 02, 2004 11:40 am

Five senators on Friday asked the Supreme Court to stop the Social Security System from employing the Swiss Challenge in the sale of its 29-percent block shares in Equitable PCI Bank.

Senators Sergio Osmeña 3rd, Juan Flavier, Rodolfo Biazon, Alfredo Lim and Jamby Madrigal said the SSS Swiss Challenge process violates the law on public bidding.

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