Monday,  August 8, 2022  6:45 pm

TICO approves $162K in Comp Fund payouts

TICO approves $162K in Comp Fund payouts
Image: Bank of Canada

TICO’s Board of Directors approved payment of $162,146.35 to assist 76 consumers who did not receive the travel services for which they had paid, in the latest payout from the organization’s Compensation Fund.

The payment was due to the closure of Blue Mountain Travel in Toronto ($6,135.00); Esna Travel and Tours in Toronto ($127,300.00); SkyGreece Airlines S.A. ($12,163.35) and Skypride Travel & Tours in Markham ($16,548.00).

The Board denied five claims, TICO said; two claims were denied as they were received beyond the legislated six month claim filing deadline, while another three were denied as they did not contain sufficient documentation to prove a claim.