Claims or Repayment Process Retail Deposit Guarantee Scheme

Page updated 2 Sep 2010

Information for depositors with institutions that have been approved under the retail deposit guarantee scheme and that have triggered the guarantee.

Repayment of All Depositors

The Government has decided that the Crown will repay all depositors of Crown guaranteed companies that defaulted while protected by the current Retail Deposit Guarantee Scheme. The decision means that repayments will be made to depositors who may not have previously been eligible for repayment.

The Treasury is currently working through the details and will provide more information as soon as possible.

Criteria relating to citizenship and tax residency will no longer apply for defaults between 12 October 2008 and 12 October 2010.

Eligibility criteria that include citizenship and tax residency will continue to apply in the event of a default after 12 October 2010 by entities approved for the extension to the Guarantee scheme. The extension to the Retail Deposit Guarantee Scheme runs from 12 October 2010 to 31 December 2011.

Institutions That Have Triggered the Guarantee

To date the following institutions have triggered the guarantee.

Read the latest information about repayment for depositors with:

• South Canterbury Finance Limited
• Allied Nationwide Finance Limited
• Mutual Finance Limited
• Viaduct Capital Limited
• Rockforte Finance Limited
• Vision Securities Limited
• Strata Finance Limited
• Mascot Finance Limited

Latest News on Claims or Repayments under the Retail Deposit Guarantee Scheme

• 31 Aug 2010 - Crown secures position in South Canterbury receivership and moves to repay all depositors of defaulting guaranteed companies - Media statement by Treasury Deputy Chief Executive Gabriel Makhlouf..
• 31 Aug 2010 - All South Canterbury Finance depositors to be repaid under Crown guarantee - Media statement by Treasury Deputy Chief Executive Gabriel Makhlouf.
• 20 Aug 2010 - Allied Nationwide Finance depositors covered by Crown guarantee - Media statement by Philip Combes, Treasury Deputy Secretary Financial Operations.
• 19 Jul 2010 - Good progress on Crown guarantee repayments to depositors - Media statement by Philip Combes, Treasury Deputy Secretary Financial Operations.
• 14 Jul 2010 - Crown's guarantee scheme covers Mutual Finance Limited depositors - Media statement by Brian McCulloch, Treasury Financial Operations Director.
• 14 May 2010 - Crown's guarantee scheme covers Viaduct Capital Limited depositors - Media statement by Brian McCulloch, Treasury Financial Operations Director.
• 10 May 2010 - Crown's guarantee scheme covers Rockforte Finance depositors - Media statement by Brian McCulloch, Treasury Financial Operations Director.
• 6 Apr 2010 - Vision Securities Limited Repayment Process.
• 1 Apr 2010 - Vision Securities depositors covered by Crown’s guarantee scheme - Media statement by Brian McCulloch, Treasury Financial Operations Director.
• 24 Apr 2009 - Strata Finance customers covered by deposit guarantee scheme - Media statement by John Whitehead, Secretary to the Treasury.
• 1 Apr 2009 - Claims Frequently Asked Questions (FAQs) has been updated to address additional questions regarding guarantee claims and interest.
• 23 Mar 2009 - Notice of Claim form available for multiple trustees claimants making a claim under the Crown Deed of Guarantee with Mascot Finance Limited.
• 19 Mar 2009 - Notice of Claim form available for trustee claimants making a claim under the Crown Deed of Guarantee with Mascot Finance Limited and also a Additional Joint Holders Schedule to Notice of Claim Form for individual claimants.
• 13 Mar 2009 - Notice of Claim form available for corporate claimants making a claim under the Crown Deed of Guarantee with Mascot Finance Limited.
• 5 Mar 2009 - Notice of Claim form available for individuals making a claim under the Crown Deed of Guarantee with Mascot Finance Limited.
• 2 Mar 2009 - Mascot Finance customers covered by deposit guarantee scheme - Media statement by John Whitehead, Secretary to the Treasury.

Contacts for Enquiries