A company may go into liquidation when its liabilities are greater than its assets.
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?
- What does a deposit transfer involve?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- How quickly will the Liquidator make payments on certificates?
Did You Know?
- Misconception: Placing funds in any instrument offered by a member institution would be covered by the DIC - Fact: ONLY Savings Accounts (including interest), Current Accounts (including interest) and Fixed Deposit Accounts (including interest), inclusive of any outstanding balances due (uncleared deposits) to these accounts, are considered for deposit insurance coverage.
