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Supervisor and Regulator of the Financial System
If I hold a client account with a bank or trust company whose license has been revoked, how do I get my money from that bank or retrieve my assets from the trust company?
When a bank or trust company is forced into liquidation, the Supreme Court will appoint an official Liquidator who will be responsible for the execution of all matters pertaining to the closure of that institution. Depositors and/or trust clients will be duly notified of this appointment, and will be requested to submit all claims and/or requests for transfer of assets under administration, in writing to the Liquidator.
Institutions which voluntarily liquidate, must give due notice in the local papers, and are obligated to notify all clients of the liquidation, and to address their claims. Should a creditor be unsatisfied with the shareholders' appointed liquidator, he/she may approach the Courts and petition for a Court appointed liquidator and supervision of the liquidation process by the Courts.