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What is going on with First Choice?

Discussion in 'General Cam Chat' started by MiaFoxUK, Apr 10, 2018.

  1. Claudia Smith

    Joined:
    Mar 23, 2017
    Messages:
    70
    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.



    So the first schedule saying that
     
  2. Claudia Smith

    Joined:
    Mar 23, 2017
    Messages:
    70
    I think we are the 10th...
     
  3. avantgart

    Joined:
    Apr 18, 2018
    Messages:
    190
    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...
     
  4. Axe

    Axe

    Joined:
    Feb 1, 2019
    Messages:
    5
    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.
     
  5. osmikel333

    Joined:
    Sep 10, 2018
    Messages:
    12
    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...
     
  6. Sophiestique

    Joined:
    Jun 21, 2017
    Messages:
    400
    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.
     
    • Helpful Helpful x 1
  7. osmikel333

    Joined:
    Sep 10, 2018
    Messages:
    12
    everyone get a email 29th ? i do not receive any emal yet and its 4 feb.
     
  8. Axe

    Axe

    Joined:
    Feb 1, 2019
    Messages:
    5
    Have you called them?
     
  9. VeronikaD

    Joined:
    May 16, 2018
    Messages:
    47
    also did not receive
     
  10. avantgart

    Joined:
    Apr 18, 2018
    Messages:
    190
    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.?
     
  11. Axe

    Axe

    Joined:
    Feb 1, 2019
    Messages:
    5
    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.
     
  12. jessy

    Joined:
    May 30, 2018
    Messages:
    81
    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
     
  13. avantgart

    Joined:
    Apr 18, 2018
    Messages:
    190
    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.
     
    • Like Like x 1
  14. jessy

    Joined:
    May 30, 2018
    Messages:
    81
    How much cost it anyway? im just curuios lol)))
     
  15. avantgart

    Joined:
    Apr 18, 2018
    Messages:
    190
    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:(
     
  16. Agnesss

    Joined:
    Jul 31, 2018
    Messages:
    8
    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 ...
     
  17. Axe

    Axe

    Joined:
    Feb 1, 2019
    Messages:
    5
    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.
     
  18. avantgart

    Joined:
    Apr 18, 2018
    Messages:
    190
    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.
     
  19. Nessma

    Joined:
    Jul 31, 2018
    Messages:
    13
    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.
     
  20. Axe

    Axe

    Joined:
    Feb 1, 2019
    Messages:
    5

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