The President, through Executive Secretary Lucas Bersamin, issued on Thursday, Oct. 19, 2023 Memorandum Order 17, containing the abolition of NorthRail.
With this, the President directed the BCDA board of directors to act as the administrator and liquidator of NorthRail and settle its liabilities, including the payment of separation incentive pay to affected officials and personnel.The BCDA directors, with the help of the Department of Transportation , shall undertake the necessary steps in liquidating NorthRail's assets and assist in the winding up of its corporate affairs.
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