Bankruptcy of Golden Seven Bank; All but a nasty rumor

NAGA CITY- Golden 7 Bank remains solvent thus depositors have no need to panic. This is the statement of Atty Lucy Torres, one of the Legal Counsel of Golden 7 Bank in an interview with Bombo Radyo Naga.The lawyer explained that its impossible for the bank to declare bankruptcy since it remains solvent, meaning, the bank have assets that could be readily dissolved to meet the needs of their clients. The lawyer also dispels the nasty rumors that spread thru text messaging stating the bankruptcy of G7 Bank. Atty Torres reiterated that depositors need not panic and stressed that bank transactions with their bank remains normal and it is "business as usual".It could be recalled that bank depositors had flocked to the bank yesterday after receiving the text message stating the bankruptcy of G7 bank.