FAQ on Recovery Values of Minibond Notes


1. My case is pending mediation and/or adjudication at FIDReC. With the announcement on the recovery value of the notes, can FIDReC still mediate and/or adjudicate my case? Do I need to provide any further information such as the recovery value of the notes I hold to FIDReC?

A: FIDReC will continue to mediate and/or adjudicate pending cases. With the announcement of the Minibond notes' recovery values, the financial loss suffered by each consumer can now be quantified. The financial loss suffered by the consumer will be taken into consideration by FIDReC Adjudicators in deciding the claims brought before them.


2. The adjudicator had made an award in my favour and I am supposed to effect a transfer of notes to the financial institution. However, I have not yet signed the settlement agreement or transferred the notes. How would the announcement on the residual value of the notes affect me? What should I do?

A: You should refer your case back to FIDReC for guidance. FIDReC will refer your case to the Adjudicator who made the award for further directions.


3. Going forward, how will the announcement of the recovery values affect future claims and settlements or adjudication awards at FIDReC?

A: With the announcement of the Minibond notes' recovery values, the financial loss suffered by each consumer can now be quantified. The consumer will make his or her claim based on the financial loss suffered.