The Liquidator is appointed when the Court makes the winding-up order.
Frequently Asked Questions
- Who should file a claim if more than one person is authorised to draw on an account?
- What happens to cheques which are not cleared on a depositor’s account before the business of the institution is closed?
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- How quickly will the Liquidator make payments on certificates?
Did You Know?
- Misconception: Certificates, deposit books and other documentary evidence of deposits held in a member institution are not relevant to making claims in the event of a failure. - Fact: A claim, supported by appropriate proof, must be made to the Deposit Insurance Corporation before payment of deposit insurance can be made. As such, all information including certificates, deposit books bank statements etc. would be required to facilitate a smooth payout process. See Tips for Depositors.
