What is going on with First Choice?

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Their email says:

As you are an unsecured creditor, your claim will be given the priority stipulated by law (Section 116(2) of the Domestic Banks and Financial Institutions Act, a copy of which appears on our website, www.choicebanklimitedinliquidation.com), and you will be paid accordingly.

That section says:

116. (2) The following unsecured claims have priority
against the general assets of a licensee being compulsorily
wound-up under this Act, namely:-
(a) firstly, credits extended to the licensee by the
Central Bank until the appointment of the
liquidator;
(b) secondly, credits extended to the licensee prior to
the appointment of the liquidator and under
collateral whose object are the licensee’s assets
and to the extent of such collateral;
Priority of
claims.
196 Domestic Banks and Financial Institutions [No. 11
(c) thirdly, the necessary and reasonable expenses
incurred by the statutory administrator or
liquidator, including professional fees in carrying
out its functions under this Act;
(d) fourthly, the wages and salaries of the officers and
employees of the licensee (whether or not earned
wholly or in any part by way of commission)
including any amount payable by way of allowance
or reimbursement under any contract of
employment or award or agreement regulating
conditions of employment, that accrued during
the three months immediately preceding the
appointment of a statutory administrator or
liquidator under this Act, provided that such
amount does not exceed five thousand dollars;
(e) fifthly, all deposits in amounts not exceeding five
thousand dollars per depositor, respectively;
(f) sixthly, all taxes due and other imports owing to
the Government of Belize;
(g) seventhly, the fees, debts and assessments owing
to the Central Bank of Belize;
(h) eighthly, credits extended to the licensee after the
appointment of the liquidator;
(i) ninthly, all other deposits;
(j) tenthly, all other unsecured claims of creditors;
(k) eleventhly, subordinated debt.



Depositors, Creditors and Lessees of

CHOICE BANK LIMITED

TAKE NOTICE that the Liquidator of Choice Bank Limited has prepared for filing with the Central Bank of Belize a schedule of the actions proposed to be taken for the purpose of the compulsory winding-up of Choice Bank Limited and the schedule can be inspected on the 1st day of March, 2019 at Choice Bank’s office, Corner Hudson Street/Marine Parade, Belize City, Belize.

AND FURTHER TAKE NOTICE that the schedule will be filed with the Central Bank on the 28th day of February, 2019.

Please note that a depositor or other creditor or shareholder or other interested person of Choice Bank Limited has twenty (20) days from the filing of this schedule of proposed action with the Central Bank to file objections with the Central Bank to any action proposed in such schedule. so 20 days we need waiting
So the first schedule saying that
What unsecured creditor means? And what does it mean a priority for them considering they are already saying they will probably only give us part of the money....?
What unsecured creditor means? And what does it mean a priority for them considering they are already saying they will probably only give us part of the money....?
What unsecured creditor means? And what does it mean a priority for them considering they are already saying they will probably only give us part of the money....?
 
Apr 18, 2018
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Damn...i think you are right:( it seems only ones with 5k will be payed in full. Wha an irony! We are "given a priority" - by putting us on last place, and we practicly financed the whole bank with amount of our money and they awarding us with biggest loses. They plan as someone said was: they are sex workers with easy money accross the world...no one cares for them and they will be quiet, so they will finance us...
Ah...another reasons why should we went with a law sue...
 

Axe

Feb 1, 2019
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I ve been saying that for ages on the offshoretalk forum but people are sometimes late in understanding. And when they are like this, you cant join forces and move forward. An individual lawsuit made no sense.
 
Sep 10, 2018
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what did date 29 February mean for me ? why they talked about a deadline when I do not get anything at this date? its 1.feb and no one email from them...
 
Jun 21, 2017
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Romania
Twitter Username
@SophiestiqueX
MFC Username
SophiestiqueM
Chaturbate Username
Sophiestique
Just reading through this as a cam model coming back after a year and a bit. Wow what a storm! I'm so sorry for everyone affected. FirstchoicePay was my absolute best option in Australia. What are people using now? is there an alternative yet? I read through a lot of the thread but seems to be stuck for solutions! Yikes.
we are using paxum at the moment, or cosmopayments, but not sure if they go tto australia yet, no harm tho to check their website.
 
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Reactions: LucyRider
Apr 18, 2018
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Anyone from here joined to group law suit with caporaso maybe? Or maybe have more info about details: is it possible for card holder, how much would it cost, is it too late etc.?
 

Axe

Feb 1, 2019
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Caporaso didn t file a lawsuit and wasn t to excited about it, from what i know.
And it is to late:)) How much money were you willing to invest in that? Cause when I found out the cost no one was willing to participate.
 
May 30, 2018
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Anyone from here joined to group law suit with caporaso maybe? Or maybe have more info about details: is it possible for card holder, how much would it cost, is it too late etc.?
hmm..i dont really see any result from this lawyer caporaso..seems he can nothing really, so many times he didnt give any news ..i didnt join but i follow who joined him
 
Apr 18, 2018
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Scrach those posts of mine above...the part i said about the law and law suit is true only until liquidation process starts( i found out now). When process begins, after that law suits doesnt help, everyone is equal(beside the fact we are unsecured and last on the list haha). So in one word, we are too late with that.
 
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Reactions: Axe
May 30, 2018
112
6
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Scrach those posts of mine above...the part i said about the law and law suit is true only until liquidation process starts( i found out now). When process begins, after that law suits doesnt help, everyone is equal(beside the fact we are unsecured and last on the list haha). So in one word, we are too late with that.
How much cost it anyway? im just curuios lol)))
 
Apr 18, 2018
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I know he asked at start about 1500e...but i think its just for documents. I do not know anything about his action after that. The thing i didnt know that in any bank could exist unsecured creditor! Every bank and every country i know guarantee 50000e on every deposits, and beyond that they try to liquidate from bank assets. Im so mad they are treating us like idiots and our money as some different unreal money. The way payoneer fucked us and got away without anyone else knowing what they did is increadable! I also afraid we will be crying out for those 70% offer we had:(
 
Jul 31, 2018
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Twitter Username
@Agnesss_777
Streamate Username
Agnesss
That offer we had of 70% wouldn’t worked out anyway... the guy that called me to propose it to me disappeared next day when I said I ll come up with an answer . I wanted to take it but I think immediately after it they changed their mind as I couldn’t get to him anymore at all . Only in that specific day when he called me for the offer , he answered to my emails . After that he disappeared and I was one of the first ppl he called cuz as soon as I got the email abt it I send my phone no and he called next day with the offer. It was wierd anyway ...
 

Axe

Feb 1, 2019
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Starting with 100k the whole process ,lawsuit and after you win the whole executory procedure.Starting with, i mention that again:)), depends on the duration, the judiciary taxes and so on.You start adding to that.
 
Apr 18, 2018
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100k ?!? Noway! That is unreal for any kind of law suit!
Today I read some terms and conditions on paxum site looking for something, and I stumbled upon at section when they say: this is not regular bank system, this is virtual money, so if something happen with platform or so, you will lose all of your money! Probably that is said on fcp site at the time....:/
And just another heads up about paxum: I asked support about is there some new cards with bigger limits on the way....they said no...and that my country isnt supported any more for issuing the new cards anyway!!(even I already have one). So do your research for your own, specially if yours is not in eu or eea.
 
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Jul 31, 2018
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Talking about a lawsuit at this time is useless. After the liquidation started nothing cant be done.
At least that's what i understood from multiple conversations with other people. By the end of this month or March we'll have a clearer picture of this situation hoepfully.
 
Apr 12, 2018
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Hey everyone, i have some bad news :( Today i got an e-mail from them, which states the liquidator allowed 0,00 $ for me.
The reasoning is: he doubts the validity of the amount of money i claimed, or i didnt sent enough proof that is my money.
Which is weird, because i got another email from them in jan 29, that they allowed my claim in full. And now they say i get nothing.
I can fill out an objection form in march to send it to them, i will do that, but honestly at this point i dont think i will get my money :(
 
Apr 12, 2018
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From the beginning i had my doubts, but i still hoped that i get some of my money if not all. Now? I dont have any hope anymore.
 
May 16, 2018
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yes have and had totally same feelings as you are.i have no hope anymore.is like force your brain to think that will be good after you will send them again what they want
 

Axe

Feb 1, 2019
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So make me understand. You both got accepted in full and now this?? How the hell are they running this business? You can t do that, accept in full then change your mind!! Its an official email and this must have legal consequences.
I wonder how many will get the same by tomorrow.