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Choice Bank of Belize faces liquidity problems

this is what worries me
1cb.jpg
since we are at the bottom of the list of claimants to be paid
1cb.jpg
 
Yes,that im saying...is confusing.

From what I read in the Liquidator's document/schedule of actions, either objections are filed before July 1st and therefore how long we might all have to continue waiting is anyone's guess...

...or there are no acceptable objections and there MIGHT be a REMOTE possibility to know the details of the upcoming distribution (should anyone be brave enough to travel to Belize (!!!) to have a look at the detailed distribution plan, the so called "Appendix I to the Schedule of Actions").

We can also each wait until we receive the "Distribution Notice" that is supposed to be prepared and issued by the Liquidator after July 1st.

In any case, we still have to be patient and wait, at least for a few weeks! The only "positive" point is that it seems that the Liquidators have received enough cash to settle 90% of the claims total, and now have enough cash in hands to settle about 88% of the amount of all remaining claims.

It's frustrating to see that a bank can't be trusted to be solvent (contrary to what Choice Bank was claiming just before being put in liquidation), but... 88% is not so bad, in my opinion.
 
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Hello everyone - I made an e-mail inquiry to the liquidator, do I need to send any documents to the central bank? and they answered me like that ...



Thank you for your email.



Your claim, accepted in its entirety, does not need to be objected to by the Central Bank of Belize. We will contact you regarding your cabling details in a short course.



Regards,

The liquidation team


I wish success to all and I hope to receive our money soon !!!
there is hope - be healthy!
 
Guys,

I recently spoke with someone at the bank, my relationship is very decent with this individual and he stated to me that the liquidator is again trying to delay pay out and stretch this whole thing out as far as it gets so he can keep collecting a fat paycheck.

He advised me to have everyone email the central bank and ramp up as much pressure as possible. Lets write them see emails below:

Prime Minister email:
[email protected]
[email protected]
[email protected]

I really hope everyone can get most of their funds back.
 
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It s been so long that you imagine your money are safe somewhere and you just have to wait. BUT that s wrong! Who s got an active whatsapp group on this topic?

I get the same answer and no solution for months. Different answer but same information written in another way. We are working, as soon as...each time another event...we will start to take measures in giving you your money back.

Despite the challenges we are facing please know that we are working diligently to fulfill payments to claimants. As soon as we are settled, we will contact you to confirm your wiring details.



Regards

The Liquidation Team
 
You may receive funds to your transferwise account should they at any point consider to pay out the money which I doupt!
 
Hi! I have been a bit surprised to see that nobody on this thread has mentioned those documents recently received from the Liquidator. Any comments from anyone?
 

Attachments

  • 20200819 CBCI-CHOICE BANK CBL_CLAIMANT PAYMENT INSTRUCTION FORM.pdf
    91.6 KB · Views: 111
  • 20200819 CBCI-CHOICE BANK Notice of Final Distribution Payment_Final 19Aug20fv.pdf
    176.8 KB · Views: 108
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