Frequently Asked Questions

Recovery of Uninsured Balances

What is a DIC certificate?
The DIC will issue certificates to cover the value of deposits in excess of the insured maximum of $125,000 as well as other uninsured claims against the failed institution.

When is the Liquidator appointed?
The Liquidator is appointed when the Court makes the winding-up order.

How quickly will the Liquidator make payments on certificates?
Payments, called dividends, depend on the rate of recovery from the liquidation of the assets of the institution, and the extent and priority of claims from other creditors of the institution. Final disbursements may take several years, depending on the type of assets to be realised.

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Will shareholders of an institution receive any part of their investment before depositors’ claims are satisfied?
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.