The liquidator files statements of Affairs annually with the Official Receiver and Statements of Accounts semi-annually with the Registrar of Companies. Much of the information regarding the liquidation process, including costs associated with the liquidation, can be found in the Statement of Accounts and by visiting the DIC website.
Frequently Asked Questions
- If a depositor has more than $200,000 (the current insured limit) in a closed institution and is paid $200,000 by the DIC, what happens to the amount in excess of $200,000?
- Must a claim be filed in person?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
Did You Know?
- Misconception: Depositors of a failed member institution have an unlimited time within which to make a claim on the Fund. - Fact: Depositors are granted a 12 month window in which to make a claim after which they can claim against the estate of the failed member. After the passage of 12 months, claims can only be made against the estate of the failed member institution payment for which would depend …
