adminKiyapili Sibanda, Business Reporter
CREDITORS of the now defunct Tetrad Investment Bank will next month convene another crunch meeting in Harare for the submission of proof of claims.
In August 2015, Tetrad creditors voted for the scheme meeting that agreed to defer claims until October 31 to allow processes to recapitalise the institution.
The upcoming special meeting, which has been called by the closed bank’s provisional judicial manager Mr John Chikura, who is also the Deposit
Protection Corporation chief executive officer, will be held before the Master of the High Court on February 9.
In a statement DPC said: “If you are owed money by Tetrad Investment Bank Limited and you have not lodged your claim with the Master of the High Court, please contact our offices so that they can collect and complete the proof of claims forms.
“The proof of claim forms are also available via electronic mail upon request and can also be downloaded from our website.”
The claim form should be lodged with the Master of the High Court at least 48 hours before the meeting.
In November 2014, the Reserve Bank of Zimbabwe suspended the investment bank from taking deposits and issuing loans until the troubled institution completed its recapitalisation exercise.
The action was considered necessary to protect the public while the troubled financial institution implemented a scheme of arrangement.
DPC is a scheme established by Government to protect depositors against the loss of their insured deposits with member institutions licenced to operate banking or finance business.
Since 2012, DPC has paid out in excess of $3 million to depositors of six closed banks.
— @Kiyaz_Cool.
Bongani Ndlovu
Online Reporter