Traditionally, distribution is made in cash. For any other form of distribution, the liquidator would solicit the support of the creditors and the sanction of the Court.
Frequently Asked Questions
- Can a depositor leave his/her deposit with the transferee institution?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- What types of deposits are insured?
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 …
