The Liquidator shall place a notice of dividend in the Gazette and newspaper and shall also send a notice of dividend to each creditor whose Form 55 – Proof of Debt has been admitted. The notice shall specify how many cents on the dollar will be paid and the date and time for the dividend.
Frequently Asked Questions
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- Who should file a claim if more than one person is authorised to draw on an account?
- How is a depositor notified of the date and place of payment of his or her claim after an institution is closed?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
Did You Know?
- Misconception: The uninsured balance, being that portion of deposit/(s) over TT$200,000 for which a certificate was issued, would never be honoured by the DIC. - Fact: A liquidator’s certificate is issued to the depositor by the Corporation for the unsecured balance being that portion of the deposit over TT$200,000. If, the realizations from the disposal of assets net of the subrogated claim of the deposit insurer results in a surplus, then unsecured balances would be …
