Choice Bank Liquidation Process Moves Forward

Choice Bank Liquidation Process Moves Forward

BELIZE CITY, Belize — Choice Bank Ltd., which issued cards for the defunct FirstchoicePay.com alternative for adult payouts, has launched a website explaining the next steps for former clients as it liquidates assets.

FirstchoicePay, which debuted in spring 2017, was an immediate success when it launched. The platform supported the transfer and payment of various currencies, including the U.S. dollar, the British pound, the euro and the Japanese yen. It offered pre-paid Mastercard accounts and global bank transfers.

But a little over a year later, Choice Bank told accountholders that it was forced into a “liquidity-constrained position” and suspended all withdrawals from deposit accounts.

Choice Bank, at the time, said that the liquidity challenges for the bank were “a short-term one” and that its depositors, cardholders and creditors would be “kept whole.”  

Later, however, the Central Bank of Belize revoked Choice Bank’s international banking license and appointed a receiver, who terminated the bank’s shareholders, directors and officers.

In a statement on a recently launched website with the domain name ChoiceBankLimitedInLiquidation.com, the receiver, accountant Cedric Flowers, stated that he will soon file a public notice on instructions on how to file claims. Flowers intends to file the notice on or before Tuesday, Aug. 28.

In addition, Flowers said that the liquidation process will allow depositors, cardholders and creditors to file claims by Monday, Oct. 29.

After 90 days, Flowers will determine claims and commence distribution of the liquidated funds by the end of February before Choice Bank winds down.

For questions regarding the liquidation process, Flowers can be contacted at cblliquidator@gmail.com.

   

Related:  

Copyright © 2025 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Pornhub Blocks Access in France in Response to SREN Law

Pornhub parent company Aylo has opted to block access to its sites in France rather than comply with age verification requirements under the country’s Security and Regulation of the Digital Space (SREN) law.

Pineapple Support to Host Wellness Sessions at Bucharest Summit

Pineapple Support is hosting free group and one-on-one therapy sessions at Bucharest Summit, June 3-5.

ASACP Highlights Study on Parental Controls

The Association of Sites Advocating Child Protection (ASACP) is highlighting the results of a study on the underutilization of parental controls.

Sydney Screams Launches New Site Through Grooby's Blue.xxx

Sydney Screams has launched her new membership site, SydneyScreams.xxx, through Grooby's website management company Blue.xxx.

Mistress Mystii Is LoyalFans' 'Featured Creator' for June

LoyalFans has named Mistress Mystii as its Featured Creator for June.

Canadian Senator Revives Push for National AV Law

Sen. Julie Miville-Dechêne, whose previous multiple attempts to legislate national age verification requirements all failed, has introduced a new bill that would impose fines of up to $500,000 on adult sites that do not implement age verification for Canadian viewers.

FSC Submits Statement to House Committee in Support of FIRM Act

Free Speech Coalition has announced that it submitted a statement to the House Financial Services Committee in support of the Financial Integrity and Regulation Management (FIRM) Act.The announcement follows:

Plaiir Joins Pineapple Support as Supporter-Level Sponsor

Plaiir has joined the ranks of over 70 adult businesses and organizations committing funds and resources to Pineapple Support.

Trump Tariffs Remain in Effect Pending Appeal of Trade Court Ruling

The U.S. Court of Appeals for the Federal Circuit on Thursday stayed an injunction by the U.S. Court of International Trade, delaying the trade court’s order blocking the Trump administration’s sweeping tariffs, which have significantly impacted the pleasure industry.

FSC Issues Guidance on Kansas Age Verification Suits

The Free Speech Coalition (FSC) has published an advisory article for adult websites operating in Kansas, following several private lawsuits filed under the state's age verification law.

Show More