Shareholders of a failed institution recover their investment only after all depositors and other creditors receive payment in full on their claims, including interest, in accordance with the laws governing liquidation.
Frequently Asked Questions
- When is the Liquidator appointed?
- Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
Did You Know?
- Misconception: Placing funds in different types of deposits such as CDs, Chequing, Savings with the same member institution would increase insurance coverage. - Fact: Deposits held by the same person in the same member institution in the form of CD’s, Chequing and Savings accounts are added together and insured up to a maximum of TT$200,000.
