The liquidator has to take control and then secure, realize and monetize the assets of a company prior to any distribution. The company’s size, composition, complexity and location of the assets, the length of time it takes to liquidate the assets, quality of records and the number of creditors are just some of the elements which can affect when payment is made.
Frequently Asked Questions
- When can an eligible depositor expect to receive his or her money?
- What methods of payment may the DIC use in meeting its obligations to the depositors of a failed institution?
- How quickly will the Liquidator make payments on certificates?
- If a depositor has an account in the main office of an institution and also at a branch office, are these accounts separately insured?
Did You Know?
- Misconception: Beneficiaries under all trust account arrangements are insured separately. - Fact: The interests held by beneficiaries established under an irrevocable express trust account are insured separately up to the maximum TT$200,000 prescribed limit. Additionally, interests in accounts held by the Settlor, Trustee or Administrator of an irrevocable trust account are insured separately from the interests of the beneficiaries named under …
