The Liquidator’s Certificate is a document issued by the DIC to depositors of a closed institution whose claim for deposit insurance payment exceeds the deposit insurance coverage limit of TT$200,000.
Frequently Asked Questions
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- How quickly will the Liquidator make payments on certificates?
- If a depositor has more than $200,000 (the current insured limit) in a closed institution and is paid $200,000 by the DIC, what happens to the amount in excess of $200,000?
Did You Know?
- Misconception: Depositors of a failed member institution would receive payment immediately upon closure of the failed member. - Fact: The legislation governing the operations of the Deposit Insurance system provides for payout to commence within 3 months of the closure of a member institution.
