The ICCL has been informed by the Central Bank of Ireland that Rush Credit Union Limited [“RCUL”] was put into liquidation by the High Court on 21st November 2016. This action by the High Court constituted a ‘Court Ruling’ for the purposes of the Act.
On being informed of a Court Ruling the Act obliges the ICCL to write to those who were clients of the firm, and may have suffered a compensatable loss, and to publish notice of the Court Ruling. Consequently, using details provided by the Official Liquidators, we have written to relevant members of RCUL, to inform them of potential entitlements under the Act.
If you are a member of RCUL and you believe that RCUL has failed to return money or investment instruments, which you had entrusted to it in connection with the provision of investment business services, you may be entitled to make a claim under the Act. If you require an ICCL claim form, please contact the ICCL on 01 224 4955 to request a RCUL claim form.
Members of RCUL should note that the Central Bank of Ireland has confirmed that all members savings held with RCUL are covered by the Deposit Guarantee Scheme. Members may also wish to note that the Central Bank of Ireland and the Official Liquidators have not identified circumstances to date which would lead them to conclude that the liquidation of RCUL will result in compensatable losses for members.
Applying for Compensation
An application for compensation under the Act must be submitted to us on the claim form provided for this purpose. Claim forms are only available from the ICCL. Members should complete a claim form only if they believe that RCUL has failed to return money or investment instruments which they entrusted to it.
Please note that the deadline, under the Act, for the submission of claims is Thursday 20th April 2017.