March 15, 2010

A quiet but frenzied everything-must-go sale has been going on for weeksnow at the ancestral home of the Tambunting clan on P. Guevara St. in San Juan before the foreclosed property gets taken over by a creditor-bank on April 1.

The ancestral home had been bequeathed to the late Ramon Tambunting, whose business, now being overseen by an adopted son, has suffered business reverses.

According to the lucky few who managed to visit the San Juan house, even the piedra china floor and lawn grass had been ripped apart and sold to buyers specializing in distressed sales.

Another related Tambunting property, the Dispophil building on Escriva Drive in Ortigas, is also set to be taken over by the bank on April 1, after failing to attract buyers with an asking price of P290 million.

Sitting on nearly a hectare of land, the four-story building had been the corporate headquarters of Dispo Philippines, which used to be in the medical equipment and hospital supplies business until it went belly up.