Crucial AfrAsia Creditors Meeting Scheduled

HARARE, October 27, 2015-Creditors and members of AfrAsia Bank Zimbabwe that is under liquidation will meet next month for submission of proof of claims and consideration of the liquidator’s report. 
The creditors’ meeting will be held before the Master of the High Court in Harare at the Rainbow Towers hotel on November 18. In Bulawayo they will meet before the deputy Master of the High Court at Holiday Inn Hotel on November 19.
In a statement on Tuesday, the Depository Protection Corporation (DPC) said the purpose of the meeting was for submission of proof of claims by creditors and consideration of the Liquidator’s report.
“If you are owned money by AfrAsia Bank and you have not lodged your claim with the Master of the High Court, please contact our offices so that you can collect and complete the proof of claims forms,” DPC said.
DPC said if a creditor’s claim was provisionally accepted at the first meeting, they are not required to submit another set of forms but encouraged to attend the meeting for the purpose of receiving the Liquidator’s update.
“You (Creditor) in person or duly appointed representative of your organisation should appear in person before the Master of the High Court…in order to prove your claim. If you or your representatives are not in attendance on the day of the meeting, your claim will be rejected for non-appearance,” said DPC.
DPC says it has so far paid US$1,7 million of the insured depositors from the closed AfrAsia bank.
In February this year, the Reserve Bank of Zimbabwe cancelled AfrAsia Bank Zimbabwe Limited (formerly Kingdom Bank)’s licence after it failed to meet minimum capital requirements.

Financial Gazette