Govt Guarantee - Time to pay out
Quote:
Originally Posted by
winner69
As minimoke says Treasury seems to work to a different timeline - this from a media announcement re Vision .... Eligible depositors with Vision Securities will be
contacted within six weeks and provided with information about how to claim under the terms of the Crown retail deposit guarantee.
http://www.treasury.govt.nz/publicat...media/01apr10a
But maybe SCF do have separate rules because they are so big and a vital cog in the economic wellbeing of so many
There is an article in the Herald today that seems to imply that, whilst the first ones took longer, the process has improved and gotten faster but depends on the quality of paperwork (fair enough I suppose):
NZ Herald - 5 Jul 2010
"The first group of Vision Securities investors, which were told the company had failed on April 1 this year, received payment on Friday"
So currently about 13 weeks by the sounds of it.
Alan.