Choice Bank of Belize faces liquidity problems

[Asahichan]

Why it been a hell on earth with payoneer > then choice bank and now‌ with epayments? Are all those issues related about holding funds and not issuing cards, blocking‍ cards???
I may say that I sense PAXUM soon gonna play the same s**t.
Holding funds and exploring working people already vulnerable.
Its been a year that I received a⁠ email saying my claim was taken fully and no email reply since.

 

[JohnLocke]

Please open a new thread for the other mentioned companies to avoid mixing⁣ the topic. People get confused!

 

[Roby]

Hello! You are⁤ lucky because you receive that 53%, others don't receive any amount.
They sent me the⁣ same msg, to wait this 3 weeks 🙁

 

[Roby]

hello! Somebody receive any e-mail afther this 3 weeks? I don't receive any 🙁

 

[Patrick Haarlem]

Not received anything yet.....

Sorry, an error has occurred Patrick Haarlem! Your post is too‌ short. It must contain a minimum of 10 word and above. your curent word is‍ 4

==> Not received anything yet..... Not received anything yet..... Not received... damn_(

 

[AmenChoice]

No email and no Money and is increadibly unprofessional to not answer emails or telephone.‌ This liquidator Julian Murillo is doing a really bad job for Belize. Serious damage to‍ Belize reputation.

 

[Theoffshoreguy69]

That banana republic never had reputation to⁠ begin with.

 

[Axe]

I get the same answer since january. They are waiting for the payment shedule.
Nothing has changed since then. How long can it take damn it?

 

[Tax Cow]

Still popcorn time? Seems like the bank's turned into a milking cow for the liquidator.‌ Can't blame a peasant/unemployed lawyer with an opportunity of a lifetime.

There's no formal announcement‍ that they are waiting for bonds to mature, or smth. similar. And even then, a⁠ small bank like this could sell all of its illiquid financial assets within a week⁤ without collapsing the price. What else do they have on the balance sheet to justify⁣ years of milking? An office building, 4 paper clips, and 12 armchairs?

 

[Theoffshoreguy69]

Btw you can write the central bank here:

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

 

[JohnLocke]

Some the entire mess can't come to⁠ anyone surprise. It is the risk that everyone enters when doing business in such jurisdictions.⁤

It is actually the perfect proof that even though the official rules say one thing,⁣ what is actually happening is a whole other thing. My point goes to all the⁢ users on this forum who are only concerned with the official rules and draw their︀ conclusions from them when responding to threads in here.

 

[clemens]

I agree with @Admin it is a mess but even worth is that we lost‌ some money which I doubt we can recover.

 

[Patrick Haarlem]

Just received this document by e-mail from the Liquidator.

Stay tuned!

 

[camelush]

So in cases when claims was approved,ppl dont need to do something else?‌ Just wait?

 

[Patrick Haarlem]

Honestly, I haven't yet thought about what our best next‍ move should be.

Let's wait until we receive further communications from the Liquidator, unless someone⁠ would have a better idea?

 

[Elian]

this is what worries me
since we are at the bottom of the list of claimants to be⁤ paid

 

[camelush]

Yes,that im saying...is confusing.

 

[Patrick Haarlem]

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 to︀ be prepared and issued by the Liquidator after July 1st.

In any case, we still︁ 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't︅ be trusted to be solvent (contrary to what Choice Bank was claiming just before being︆ put in liquidation), but... 88% is not so bad, in my opinion.

 

[koko]

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!

 

[Theoffshoreguy69]

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.