CaribWorldNews, PROVIDENCIALES, Turks & Caicos, Tues. July 21, 2009: The liquidator appointed to oversee Olint TCI Corporation Limited says his initial findings indicate there are not enough assets to meet the claims of customers of Olint TCI.
Joseph P. Connolly, the liquidator appointed to wind up the failed investment scheme, said Monday that there is no likelihood of an early distribution to claimants.
Especially since he claimed that the task of identifying the reasons for the failure of Olint TCI, the identification and recovery of additional assets, the identification and the verification of claims from customers/investors/creditors, is likely to be a difficult and time consuming task.
Connolly added that he is not in possession of the approximately thirteen million United States dollars in funds from the company and cannot state if and when these assets will be recovered for Olint TCI.
However, in the interim, claimants of Olint TCI are being requested to forward their claim along with the name(s) of account holder and beneficiary, their customer account number and member ID number, all contact information, including address, telephone number, facsimile and e-mail, copies of all Contracts or Agreements, Documentation showing funds placed with and withdrawn from Olint TCI, e.g. copies of checks, banker`s drafts or wire transfer instructions, statements received from Olint TCI and any other document that may substantiate a claim against Olint TCI.
These documents should be sent for the attention of the Official Liquidator of Olint TCI via email or post to: Joseph P. Connolly, P O Box 63, Abacus House, Providenciales P O Box 313, Turks & Caicos Islands or email [email protected].
Olint TCI does not include Olint Corporation Limited, Overseas Locket International Limited or any other entity incorporated in Jamaica or elsewhere that may be linked to David Smith and Tracy-Ann Smith, the shareholders of Olint TCI.