The Liquidator is appointed when the Court makes the winding-up order.
Frequently Asked Questions
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- How does the closing of an institution affect interest accruing on a deposit?
- Will the Corporation offset a deposit balance held by a customer against the balance due on the loan?
- What does a deposit transfer involve?
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.
