outbrain
Close  

Gatchalian: HDO just procedure, does not mean case is strong

By: - Reporter / @MAgerINQ
/ 05:01 PM July 20, 2016
Sherwin Gatchalian

Sen. Sherwin Gatchalian. Nestor Corrales/INQUIRER.net

The hold departure order (HDO) issued by the Sandiganbayan was not an indication that the case against him in connection with the alleged anomalous buyout of an insolvent bank in 2009 was strong, newly elected Sen. Sherwin Gatchalian said on Wednesday.

Gatchalian said the HDO was “purely a matter of course which is to be expected after the filing of an information before the Sandiganbayan.”

ADVERTISEMENT

“It is merely to ensure that the accused remain within the jurisdiction of the court during the duration of the proceedings,” he said in a text message when sought for comment on the court’s order against him and other coaccused.

READ: Gatchalians barred from travel amid anomalous bank buyout case

FEATURED STORIES

“The release of an HDO does not indicate that the case is particularly strong. It is a purely procedural order which does not speak on the merits of the case,” the senator said.

“In many cases, the court will still allow the accused to leave the country for legitimate reasons if he files the proper motion.”

Gatchalian was among those charged with graft, malversation of public funds, and violation of the manual of regulation for banks over the alleged anomalous buyout of the Express Savings Bank Inc., (Esbi), a local thrift bank based in Laguna, by the Local Water Utilities Administration (LWUA).

The senator was corporate executive of the Wellex Group Inc. (WGI) which co-owned the bank.

The LWUA allegedly approved the acquisition of the the insolvent bank in 2009 despite suffering net losses and capital deficits from 2005 to 2009.

ADVERTISEMENT
Read Next
EDITORS' PICK
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Esbi, Express Savings Bank Inc., Hold Departure Order, Local Water Utilities Administration, LWUA, Sherwin Gatchalian, Wellex Group Inc.
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2020 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.