DISTRIBUTION PROCESS UNDERWAY TO SIB CREDITORS
Distribution selection instructions for Commercial and Personal Accounts.
Antigua, March 4, 2014 – As of Saturday, February 22, ITAL Bank is distributing notices on a rolling bases to Stanford International Bank “SIB” Creditors with claims admissible for distribution. Approximately 1,000 claims a day are being sent out and ITAL Bank is currently handling the Latin American countries first.
Once received, creditors are urged to complete the paperwork to choose a distribution selection of payment via check, wire transfer, or opening of an account with ITAL Bank. Additionally, should you wish to complete the documentation sooner, the documentation is being posted on SIB’s website, below, from which you can print the documentation, fill it out, and submit it to ITAL Bank.
The sooner you fill out and submit the documentation to ITAL Bank, the sooner your chosen method of distribution can be effectuated. Distributions will be made on a weekly basis.
Frequently asked questions on this matter are posted on the Joint Liquidators’ official website at www.sibliquidation.com.