ect in 2021, the Department of Finance said.nancial institutions clean their balance sheets by selling nonperforming assets to FIST corporations that are registered with the Securities and Exchange Commission .
Both Philippine Equitable Recovery FIST-Asset Management Corp. and Philippine Recovery Co. FISTC-AMC, Inc. are 100% Filipino owned, while Argo Global Servicing Philippines , Inc. is under a Japanese corporation.rm, while Resurgent Capital , Inc. includes an investment banking subsidiary of China Banking Corp. among its incorporators.
But the global effects of the coronavirus disease 2019 pandemic meant that foreign investors did not need to go far to invest in distressed debt.
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