Palau President Johnson Toribiong disclosed that 79 individual depositors already have received their reimbursements since the government started giving out the refund on December 1.
Of the 79, 58 were Palauans, 11 Filipinos, 5 Americans, 2 Africans, 2 Bangladeshis, 2 Africans and 1 Taiwanese.
Toribiong said the remaining unpaid depositors will be given their refund next week.
Some 641 PSB depositors have remained unpaid since the PSB was placed on receivership last November 2006.
Of the 641 unpaid depositors, 398 have deposits under $5,000, 90 have deposits under $10,000, 97 depositors have less than $50,000, 32 depositors have less than $100,000, 19 depositors have less than $500,000 and five have less than $2 million deposits.
The Palau government was able to initiate payout to some unpaid depositors of PSB after the Taiwan government has agreed to provide a grant for the reimbursement.
The fund for the payout came from the balance of Palau government’s loan from Taiwan which was used during the first payout in 2007.
There remains a balance of about $955,000 from the loan. Instead of returning it, Toribiong requested the Taiwan government to use it to repay. Taiwan agreed to the request.
Toribiong said that those remaining unpaid depositors should start processing their claims at the Old OEK building.
Because the funds come in installments, initially those with claims totaling less than $4,000 are eligible for a distribution of grant funds.
He said claimants should bring one form of photo identification like passport or driver’s license.
Once a claimant will be able to satisfy such requirement, he will be given an authorization form to fill out and sign instructing the PSB Receiver to release information concerning his unpaid claim against the PSB, he said.
Toribiong added once the Office of the President has received from the PSB Receiver all the information it needs to process the claim, a claimant will be contacted at the telephone number and mailing address provided in the authorization form.
An appointment will then be made for the depositor to come in and receive his reimbursement.
