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
- What types of deposits are insured?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation. - Fact: Deposit insurance is ONLY activated upon closure of a member institution.
