| SNRProductions |
08-20-2018 03:12 PM |
Small update from Payoneer/FirstChoice Pay
Got this email today from Pearl Levy after asking about my frozen funds. Figured it might help some of you as well...
Quote:
Hi Steve,
On June 29, the Central Bank of Belize revoked Choice Bank’s license and appointed a local Belize accountant (Mr. Cedric Flowers) as the liquidator of the bank.
The Central Bank issued a press release on July 17 (https://centralbank.org.bz/docs/defa...7.pdf?sfvrsn=2) in which they said that Mr. Flowers will oversee all of the affairs of Choice Bank going forward and that all questions should be to be directed to him at [email protected].
We understand that the liquidator has retained lawyers to advise him throughout the liquidation process.
From a practical perspective, given the liquidator’s unfamiliarity with Choice Bank’s business, it will likely take him several weeks or longer to understand their business (under Belize law, the liquidator has up to 60 days from the time of his appointment to assess the situation and communicate with depositors).
Payoneer, as one of Choice Bank’s largest depositors, has significant funds that have been frozen and we are just as concerned and frustrated as you are with this situation. We plan to keep the pressure on both the Central Bank and liquidator to return frozen.
The liquidator has been posting updates and forms online: https://www.choicebanklimitedinliquidation.com/en/
Thank you,
Pearl
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