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Choice Bank of Belize faces liquidity problems
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@camelush: from previous posts here, I understand that the origin of the problem is your bank's COUNTRY, more than your citizenship. Right? We are both UE citizens.
Have you tried to open a personal bank account in some other country? I guess there are quite a few experienced and qualified contributors on this forum, who would be able to give you some good advice.
Personally, I received the liquidator's wire transfer on my personal account with Standard Bank (Isle of Man, where I am not a resident), although the Choice Bank account was opened under a Belize company's name.
Have you tried to open a personal bank account in some other country? I guess there are quite a few experienced and qualified contributors on this forum, who would be able to give you some good advice.
Personally, I received the liquidator's wire transfer on my personal account with Standard Bank (Isle of Man, where I am not a resident), although the Choice Bank account was opened under a Belize company's name.
I have discussed this matter several times with the liquidation team and the problem is not the bank's country. It is the citizenship. I have bank accounts in 3 different countries beside my citizenship country and they will not send me money because the country of my citizenship is on their corespondent bank restricted list.
Have you discussed with the liquidation team about the possibility to allow them to wire the available amount of your claim to someone else (who would be a national of an UNrestricted country)?
No, because the money must be sent on the same name as the name of the account were the money were. Else, why would they require passport, proof of address and legalization for all these documents ? In the case that you mentioned, how can they prove that they sent the money to me ? Or I could start a lawsuit pretending that they didn't send the money to me especially. It's way to complicated and I think nobody whats to do that.
Besides, I don't trust a middleman for that amount. We are talking 6 figures in my case.
Besides, I don't trust a middleman for that amount. We are talking 6 figures in my case.
Well yes,we are EU citizens,but I dont thibk that matter,I still not found why︁ Romania is on blacklist,they didnt gave me any explanation. And yes,I think Nimphobic has right︂ about it. Anyway I will try contact them and asked if they can send money︃ in other account,even if I have 0 hopes.
I completely understand your point of view; you would indeed need to have total and absolute trust in that other person.
As for the rest, my personal experience with the liquidation team and the claims payment procedure is diametrically opposite: the Choice Bank account was opened under a Belize company's name and, since that company didn't have any other bank account anywhere, I requested that the wire transfer be sent to my personal SB-IOM account. The liquidator accepted and therefore sent the money to someone:
-who was not the direct Choice Bank account holder,
-and who also had a different name.
It was also a︀ six-figure amount, by the way.
Admittedly, it might have helped that in my case, even︁ though not a Director of that Belize company, I was the single shareholder and UBO.︂
Let me wish you good luck in your efforts to recover your money and let's︃ hope the liquidator will accept to cooperate.
As for the rest, my personal experience with the liquidation team and the claims payment procedure is diametrically opposite: the Choice Bank account was opened under a Belize company's name and, since that company didn't have any other bank account anywhere, I requested that the wire transfer be sent to my personal SB-IOM account. The liquidator accepted and therefore sent the money to someone:
-who was not the direct Choice Bank account holder,
-and who also had a different name.
It was also a︀ six-figure amount, by the way.
Admittedly, it might have helped that in my case, even︁ though not a Director of that Belize company, I was the single shareholder and UBO.︂
Let me wish you good luck in your efforts to recover your money and let's︃ hope the liquidator will accept to cooperate.
that means they can send money to someone you choose ? i would do this too . i can send money to a friend in europe/ i m curious what they ask for
https://www.breakingbelizenews.com/2019/11/04/eu-to-remove-belize-from-tax-haven-blacklist/
Maybe this is good news
Maybe this is good news
what if they will send you money ? what your local bank with say ? maybe this is not a good idea and just make it lost
@camelush: From what I read in their answer to you, the Liquidator/Liquidation Team did NOT say "NO". They just say that they will not accept any liability. In my opinion, it means that:
-YES, you can ask them to wire your claim to someone else,
-but that, if that someone plays some trick on you or disappear with your money, then NO, the Liquidator cannot be held responsible for following your instructions and for paying that someone instead of you.
Which means that you must be able to TRUST that person 1000% (or more) and be sure of his/her integrity. You also have to︀ be sure that person will be allowed by their bank/country of residence to wire your︁ money to your own bank account.
I hope I am not misinterpreting the liquidator's message︂ to you. Don't hesitate to check that out with more experienced/qualified contributors on this forum.︃
And... Good luck anyway!
-YES, you can ask them to wire your claim to someone else,
-but that, if that someone plays some trick on you or disappear with your money, then NO, the Liquidator cannot be held responsible for following your instructions and for paying that someone instead of you.
Which means that you must be able to TRUST that person 1000% (or more) and be sure of his/her integrity. You also have to︀ be sure that person will be allowed by their bank/country of residence to wire your︁ money to your own bank account.
I hope I am not misinterpreting the liquidator's message︂ to you. Don't hesitate to check that out with more experienced/qualified contributors on this forum.︃
And... Good luck anyway!
Hei again,
I send another︄ email and explain how I will take my responsibility for all and I can have︅ 100% trust in that person,who live in UK.
And that is what they answear.
I really dont understand anymore.
In other mail they said my pappers for partially payout was︆ approved and now this. What is the difference now?
Im sorry for asking so much.︇ Thank you.
I send another︄ email and explain how I will take my responsibility for all and I can have︅ 100% trust in that person,who live in UK.
And that is what they answear.
I really dont understand anymore.
In other mail they said my pappers for partially payout was︆ approved and now this. What is the difference now?
Im sorry for asking so much.︇ Thank you.
You are not asking THAT much @camelush. I am happy to answer.
What I understand from the liquidator's message is that:
-HERITAGE BANK Ltd is the Belize-based bank which is holding the liquidation account (I guess the liquidator opened a specific bank account to handle all financial operations related to the liquidation of Choice Bank),
-HERITAGE BANK did not approve your wire transfer when the liquidator ordered it in August, because Romania (and Romanians too it seems) are on THEIR list of "restricted countries";
-The UK correspondent bank of Heritage Bank (that is: the bank in charge of receiving the funds transferred by the︀ liquidator and to re-transfer them to the designated final beneficiary) just decided to reject all︁ transfers ordered by the Liquidator; no reasons are given for the UK corespondent bank's decision;︂
-HERITAGE BANK having just LOST their correspondent bank, NOBODY can expect to receive any money︃ from the liquidator before he has managed to find another bank or payment processor;
-That should take about two weeks, they say...
As a result, we, the Choice Bank depositors/creditors︄ waiting to receive payment of our claims, or the balance due... if any... are all︅ in sh*t... until further notice.
Let's hope the liquidator will really manage to find the︆ adequate payment provider as quickly as they believe...
What I understand from the liquidator's message is that:
-HERITAGE BANK Ltd is the Belize-based bank which is holding the liquidation account (I guess the liquidator opened a specific bank account to handle all financial operations related to the liquidation of Choice Bank),
-HERITAGE BANK did not approve your wire transfer when the liquidator ordered it in August, because Romania (and Romanians too it seems) are on THEIR list of "restricted countries";
-The UK correspondent bank of Heritage Bank (that is: the bank in charge of receiving the funds transferred by the︀ liquidator and to re-transfer them to the designated final beneficiary) just decided to reject all︁ transfers ordered by the Liquidator; no reasons are given for the UK corespondent bank's decision;︂
-HERITAGE BANK having just LOST their correspondent bank, NOBODY can expect to receive any money︃ from the liquidator before he has managed to find another bank or payment processor;
-That should take about two weeks, they say...
As a result, we, the Choice Bank depositors/creditors︄ waiting to receive payment of our claims, or the balance due... if any... are all︅ in sh*t... until further notice.
Let's hope the liquidator will really manage to find the︆ adequate payment provider as quickly as they believe...
hello I receive this mail yesterday :
Thank you for your email.
Please be advise on 30th, September 2019, Heritage’s correspondent effectively "de-risked" the Liquidation. The correspondent bank in the UK will no longer process any transaction on behalf of the liquidation. Your wire was not reviewed and approved by Heritage Bank prior to this.
We are in negotiations with several other payment providers who may be willing to take the liquidation on. We are making progress. We should have a firm update in the next two weeks.
Regards
The Liquidation Team.
any one receive like this answer ?
Thank you for your email.
Please be advise on 30th, September 2019, Heritage’s correspondent effectively "de-risked" the Liquidation. The correspondent bank in the UK will no longer process any transaction on behalf of the liquidation. Your wire was not reviewed and approved by Heritage Bank prior to this.
We are in negotiations with several other payment providers who may be willing to take the liquidation on. We are making progress. We should have a firm update in the next two weeks.
Regards
The Liquidation Team.
any one receive like this answer ?
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