More News from Palau: Senate Oversight of OAG? Money-Laundering; PSB; Mistress City in Philippines
Senate committee chair rejects call to conduct hearing on $22 B money laundering case.
Monday, December 06, 2010 03:42PM
By Jose Señase - For Variety.
KOROR (Palau Horizon) - The head of the Senate Judiciary and Governmental Affairs (JGA) Committee has rejected the call from a fellow lawmaker that he initiates an oversight hearing on the ongoing $22 billion money laundering case involving several individuals close to Palau President Johnson Toribiong. Earlier, Senator Surangel Whipps, Jr. called for the conduct of an oversight or public hearing on the case in light of the “questionable” dismissal from the case of several individuals close to Pres. Toribiong.
Citing insufficiency of evidence, the AGO early this month dropped all charges against Senate President Mlib Tmetuchl and Lucius Malsol, who is a brother of Pres. Toribiong.
Whipps said that either the JGA Committee chaired by Toribiong or the Ways and Means Committee headed by Sen. Mark Rudimch can initiate an oversight hearing to erase all lingering doubts and for the public to know what really happened.
In an interview, Sen. Joel Toribiong, chairman of the JGA, said that he sees no need to conduct such hearing.
“No way. I am not going to do it. There is no reason to do it. When the court dismisses your case I don’t think there is a need to conduct an oversight. I think Congress should respect the justice system,” he stressed.
“He (Whipps) feels the whole system is so screwed up. He thinks we need to conduct an oversight on every movement the court does, the attorney general office’s does. Everybody who feels that is way beyond his call of duty,” the senator added.
Toribiong charged that Whipps is “playing with politics “and using the Legislature to advance his own political agenda.
“When his political agenda doesn’t move on, then he starts using the Congress to play politics. Congress doesn’t do that. Congress believes in a good justice system,” he said.
“Don’t take one man’s word and challenge the whole system. If he wants to conduct an oversight or he wants to question them, let him do it. Because you don’t believe in these guys you cannot push the Congress to work for you. Congress is the place for the majority. If the majority doesn’t believe what you are doing, and unfortunately they don’t believe in what you are doing. It is a political decision,” Toribiong concluded.
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Palau gov’t starts reimbursing unpaid depositors of PSB.
Monday, December 06, 2010 03:41PM
By Jose Señase - For Variety.
KOROR (Palau Horizon) - The Palau government has started reimbursing unpaid depositors of the failed Pacific Savings Bank (PSB). Palau President Johnson Toribiong disclosed that 79 individual depositors already have received their reimbursements since the government started giving out the refund on December 1. Of the 79, 58 were Palauans, 11 Filipinos, 5 Americans, 2 Africans, 2 Bangladeshis, 2 Africans and 1 Taiwanese. Toribiong said the remaining unpaid depositors will be given their refund next week.
Some 641 PSB depositors have remained unpaid since the PSB was placed on receivership last November 2006. Of the 641 unpaid depositors, 398 have deposits under $5,000, 90 have deposits under $10,000, 97 depositors have less than $50,000, 32 depositors have less than $100,000, 19 depositors have less than $500,000 and five have less than $2 million deposits.
The Palau government was able to initiate payout to some unpaid depositors of PSB after the Taiwan government has agreed to provide a grant for the reimbursement. The fund for the payout came from the balance of Palau government’s loan from Taiwan which was used during the first payout in 2007. There remains a balance of about $955,000 from the loan. Instead of returning it, Toribiong requested the Taiwan government to use it to repay. Taiwan agreed to the request.
Toribiong said that those remaining unpaid depositors should start processing their claims at the Old OEK building. Because the funds come in installments, initially those with claims totaling less than $4,000 are eligible for a distribution of grant funds. He said claimants should bring one form of photo identification like passport or driver’s license.
Once a claimant will be able to satisfy such requirement, he will be given an authorization form to fill out and sign instructing the PSB Receiver to release information concerning his unpaid claim against the PSB, he said. Toribiong added once the Office of the President has received from the PSB Receiver all the information it needs to process the claim, a claimant will be contacted at the telephone number and mailing address provided in the authorization form. An appointment will then be made for the depositor to come in and receive his reimbursement.
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PSB depositors gets reimbursed
Posted on December 8, 2010 by Admin
Koror, Palau - Just before the holidays kick off, Palau President Johnson Toribiong announced that some depositors with unpaid claims from the defunct Pacific Savings Bank are eligible to receive a reimbursement through a grant provided by the Government of the Republic of China-Taiwan.
Hundreds lined up at the old Olbiil Era Kelulau on December 1, 2010 to file their claims. The grant is, however only available for those depositors who have claims totaling less than $4,000. With the reimbursement, PSB can eliminate over third of the 600 remaining depositors.
The President earlier negotiated with the Government of the Republic of China-Taiwan through their Ambassador Maggie Tien. According to the President’s office, if there are funds left over from this current payout, then the administration will use that to pay up the depositors who has claims up to $7,000.
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Senators, Koror State officials embark on RP visit to attend sisterhood signing ceremony.
Monday, December 06, 2010 03:40PM
By Jose Señase - For Variety.
KOROR (Palau Horizon) - A delegation of senators and Koror State officials will be going to the Philippines to attend the signing of a sisterhood agreement between Koror State in Palau and Angeles City, Pampanga. This was confirmed by Koror State Governor Yusitaka Adachi in an interview Thursday. Adachi said the delegation is composed of sixteen people.
In the delegation are seven people from the executive branch headed by the governor and six state legislators led by Koror State Legislature Speaker Eyos Rudimch. Also joining the trip are Senators Hokkons Baules, Paul Ueki and Joel Toribiong.
Adachi said that the delegation will travel to the Philippines for the signing of a sisterhood agreement. The signing ceremony will be held on December 9. It will be the second time that Koror State will be forging a sisterhood agreement with a city in the Philippines. Earlier, Koror State also forged a sisterhood agreement with Davao City in the South.
Prior to the signing agreement, Adachi disclosed that the delegation will also meet with officials and business leaders of Angeles City led by Mayor Edgardo Pamintuan to discuss some important issues and cooperation between the two places.
He said that on top of the agenda will be the planned direct airplane flights between Palau and Angeles City. Also to be discussed, according to him, are cooperation in the field of business, medicine, fisheries and agriculture.
The governor added that the delegation will also attend a Lantern Festival in the same city on Dec. 8. Adachi said the delegation will be flying to the Philippines today and will be returning back to Palau on December 10. He said the Koror State government will shoulder the traveling expenses of the delegation.
Monday, December 06, 2010 03:42PM
By Jose Señase - For Variety.
KOROR (Palau Horizon) - The head of the Senate Judiciary and Governmental Affairs (JGA) Committee has rejected the call from a fellow lawmaker that he initiates an oversight hearing on the ongoing $22 billion money laundering case involving several individuals close to Palau President Johnson Toribiong. Earlier, Senator Surangel Whipps, Jr. called for the conduct of an oversight or public hearing on the case in light of the “questionable” dismissal from the case of several individuals close to Pres. Toribiong.
Citing insufficiency of evidence, the AGO early this month dropped all charges against Senate President Mlib Tmetuchl and Lucius Malsol, who is a brother of Pres. Toribiong.
Whipps said that either the JGA Committee chaired by Toribiong or the Ways and Means Committee headed by Sen. Mark Rudimch can initiate an oversight hearing to erase all lingering doubts and for the public to know what really happened.
In an interview, Sen. Joel Toribiong, chairman of the JGA, said that he sees no need to conduct such hearing.
“No way. I am not going to do it. There is no reason to do it. When the court dismisses your case I don’t think there is a need to conduct an oversight. I think Congress should respect the justice system,” he stressed.
“He (Whipps) feels the whole system is so screwed up. He thinks we need to conduct an oversight on every movement the court does, the attorney general office’s does. Everybody who feels that is way beyond his call of duty,” the senator added.
Toribiong charged that Whipps is “playing with politics “and using the Legislature to advance his own political agenda.
“When his political agenda doesn’t move on, then he starts using the Congress to play politics. Congress doesn’t do that. Congress believes in a good justice system,” he said.
“Don’t take one man’s word and challenge the whole system. If he wants to conduct an oversight or he wants to question them, let him do it. Because you don’t believe in these guys you cannot push the Congress to work for you. Congress is the place for the majority. If the majority doesn’t believe what you are doing, and unfortunately they don’t believe in what you are doing. It is a political decision,” Toribiong concluded.
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Palau gov’t starts reimbursing unpaid depositors of PSB.
Monday, December 06, 2010 03:41PM
By Jose Señase - For Variety.
KOROR (Palau Horizon) - The Palau government has started reimbursing unpaid depositors of the failed Pacific Savings Bank (PSB). Palau President Johnson Toribiong disclosed that 79 individual depositors already have received their reimbursements since the government started giving out the refund on December 1. Of the 79, 58 were Palauans, 11 Filipinos, 5 Americans, 2 Africans, 2 Bangladeshis, 2 Africans and 1 Taiwanese. Toribiong said the remaining unpaid depositors will be given their refund next week.
Some 641 PSB depositors have remained unpaid since the PSB was placed on receivership last November 2006. Of the 641 unpaid depositors, 398 have deposits under $5,000, 90 have deposits under $10,000, 97 depositors have less than $50,000, 32 depositors have less than $100,000, 19 depositors have less than $500,000 and five have less than $2 million deposits.
The Palau government was able to initiate payout to some unpaid depositors of PSB after the Taiwan government has agreed to provide a grant for the reimbursement. The fund for the payout came from the balance of Palau government’s loan from Taiwan which was used during the first payout in 2007. There remains a balance of about $955,000 from the loan. Instead of returning it, Toribiong requested the Taiwan government to use it to repay. Taiwan agreed to the request.
Toribiong said that those remaining unpaid depositors should start processing their claims at the Old OEK building. Because the funds come in installments, initially those with claims totaling less than $4,000 are eligible for a distribution of grant funds. He said claimants should bring one form of photo identification like passport or driver’s license.
Once a claimant will be able to satisfy such requirement, he will be given an authorization form to fill out and sign instructing the PSB Receiver to release information concerning his unpaid claim against the PSB, he said. Toribiong added once the Office of the President has received from the PSB Receiver all the information it needs to process the claim, a claimant will be contacted at the telephone number and mailing address provided in the authorization form. An appointment will then be made for the depositor to come in and receive his reimbursement.
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PSB depositors gets reimbursed
Posted on December 8, 2010 by Admin
Koror, Palau - Just before the holidays kick off, Palau President Johnson Toribiong announced that some depositors with unpaid claims from the defunct Pacific Savings Bank are eligible to receive a reimbursement through a grant provided by the Government of the Republic of China-Taiwan.
Hundreds lined up at the old Olbiil Era Kelulau on December 1, 2010 to file their claims. The grant is, however only available for those depositors who have claims totaling less than $4,000. With the reimbursement, PSB can eliminate over third of the 600 remaining depositors.
The President earlier negotiated with the Government of the Republic of China-Taiwan through their Ambassador Maggie Tien. According to the President’s office, if there are funds left over from this current payout, then the administration will use that to pay up the depositors who has claims up to $7,000.
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Senators, Koror State officials embark on RP visit to attend sisterhood signing ceremony.
Monday, December 06, 2010 03:40PM
By Jose Señase - For Variety.
KOROR (Palau Horizon) - A delegation of senators and Koror State officials will be going to the Philippines to attend the signing of a sisterhood agreement between Koror State in Palau and Angeles City, Pampanga. This was confirmed by Koror State Governor Yusitaka Adachi in an interview Thursday. Adachi said the delegation is composed of sixteen people.
In the delegation are seven people from the executive branch headed by the governor and six state legislators led by Koror State Legislature Speaker Eyos Rudimch. Also joining the trip are Senators Hokkons Baules, Paul Ueki and Joel Toribiong.
Adachi said that the delegation will travel to the Philippines for the signing of a sisterhood agreement. The signing ceremony will be held on December 9. It will be the second time that Koror State will be forging a sisterhood agreement with a city in the Philippines. Earlier, Koror State also forged a sisterhood agreement with Davao City in the South.
Prior to the signing agreement, Adachi disclosed that the delegation will also meet with officials and business leaders of Angeles City led by Mayor Edgardo Pamintuan to discuss some important issues and cooperation between the two places.
He said that on top of the agenda will be the planned direct airplane flights between Palau and Angeles City. Also to be discussed, according to him, are cooperation in the field of business, medicine, fisheries and agriculture.
The governor added that the delegation will also attend a Lantern Festival in the same city on Dec. 8. Adachi said the delegation will be flying to the Philippines today and will be returning back to Palau on December 10. He said the Koror State government will shoulder the traveling expenses of the delegation.