Quasi-reorganization to wipe out Philrealty’s P2-B deficit

Emeterio Sd. Perez

PHILIPPINE Realty and Holdings Corp. reported a deficit of P1.8 billion as of June 30, 2014, up 2.9 percent from P1.8 billion as of Dec. 31, 2013, on account of its net loss of P50.3 million in the first six months. Said accumulated losses could even hit P2 billion by the time the company applies the ultimate remedy to a deficit-laden company.