Fact: A liquidator’s certificate is issued to the depositor by the Corporation for the unsecured balance being that portion of the deposit over TT$125,000. If, the realizations from the disposal of assets net of the subrogated claim of the deposit insurer results in a surplus, then unsecured balances would be paid on a pro rata basis.
Frequently Asked Questions
- 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?
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- When can an eligible depositor expect to receive his or her money?
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.