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
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- Are foreign deposits insured?
Did You Know?
- Misconception: Mutual Funds are covered by Deposit Insurance. - Fact: Mutual funds, be they general or issued as a member’s proprietary funds, are NOT covered by deposit insurance.
