Atlantic International Bank Limited AIBL (in Liquidation)

[heimdall]

Hello to all,

The liquidator of AIBL says the funds he has received so far is mostly in Belize Dollars. So he says some part of the partial payments will be in Belize Dolllars. The liquidator asks from each claimant a Belize Dollar account number or some sort of special arrangement with a lawyer or agent.

Any idea what to do in this situation?
As a non-resident can I open a Belize Dollars account?
"Receiving the Belize dollar payment via an agent or attorney in Belize" Anyone any experience with such methods?

Thanks in advance for any advice or assistance.

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See the statement sent by the Liquidator :

"Currency of payments

Please note that there is no option to receive US dollars only and claimants will, therefore, need to select between all in “Belize Dollars” or a “Mix of Belize Dollars & United States Dollars”. As advised in the payment notice released on 13th March, the greater majority of the funds held by the Liquidator is in Belize Dollars as most of the assets disposed of so far were acquired in Belize dollars.

If you have already submitted your form and have not provided Belize dollar payment instructions for the mixed currency option, please make the necessary arrangements to provide them as soon as possible. Receiving the Belize dollar payment via an agent or attorney in Belize is an option you may wish to consider if you do not already maintain a Belize Dollar account. "

 

[JohnLocke]

Why don't make sure you have a bank account in your name or in the company name that can receive foreign currency but may be exchanged to your local currency. That's better then if you have to stress around to open a new account.

 

[heimdall]

Why don't make sure you have a bank account in your name or in the company name that can receive foreign currency but may be exchanged to your local currency. That's better then if you have to stress around to open a new account.

Thank you for your reply. At the moment I do not know if is possible to open a Belize Dollar account in any country other than Belize.

Also due to Covid-19 situation it is quite impossible to travel to somewhere else to open a bank account. So this bank has to accept online account opening. Looks like my options are quite limited.

I have received the liquidator's message quite recently. I have a lot of questions in my mind. And I'm trying to find the answers. Like;
- Can I open Belize Dollars account in any of Belize Offshore banks?
- As a non-resident; can I open a Belize Dollars account in Belize? etc.

Any info highly appreciated.

 

[Spinat]

- Can I open Belize Dollars account in any of Belize Offshore banks?

Why do you need that? You can open an account with your local bank and simply get the funds transfered and exchanged to this account or not?

 

[heimdall]

Why do you need that? You can open an account with your local bank and simply get the funds transfered and exchanged to this account or not?

Thanks bluweb.

In my local bank it is not possible to open an account in Belize Dollars. I do not know if it's possible to open BZ$ account anywhere in the world other than Belize. And the liquidator says he can only pay in Belize Dollars and asks for a BZ$ account number from me.

That is the problem now. I have no idea what to do at the moment.

 

[boomy]

Today you will be using EMI's like Transferwise if you can't get a US$ account elsewhere.

This bank is under liquidation, so you will face big troubles getting money out of it in the near future.

 

[MountainMan3436]

No bank outside Belize opens accounts in Belize dollars. Belize dollars are not freely convertible. That is why the liquidator cannot exchange them to US dollars and you will not be able to either. Best option is to receive via a lawyer or representative in Belize then use them for a vacation in Belize...

 

[uplana]

if that is true, how would you get your money out of it at all if I may ask?