VBS Mutual Bank creditors to lodge claims against bank’s estate

VBS Bank
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Some creditors of the defunct VBS Mutual Bank are making use of the final opportunity to lodge their claims against the bank’s estate.

The liquidator has given creditors Thursday and Friday, this week,  to submit their claims at a hotel in Thohoyandou in Limpopo.

Spokesperson for VBS Mutual Bank liquidator, Louise Brugman, says this final opportunity for creditors to lodge their final claims against the bank, is for those who are owed more than R100 000.

She says creditors who are owed less than R100 000, have until July 19 to withdraw their money at Nedbank.

VBS was liquidated after widespread looting and corruption, allegedly by bank executives and politicians.

The first day of the final opportunity for creditors to lodge valid claims against VBS Mutual Estate started with only a few creditors submitting their claims.

On Wednesday, were the elderly.

Creditors have until Friday to lodge their claims.  71-year-old Gudson Mushaniki lodged his claim for the second time on Thursday. He says he is confident that he will recoup his remaining funds.

“I feel better. This one which has been left behind, I think it will be deposited into our accounts. The process is going well, though it is slow. They can reopen it, but I don’t think it will be having many clients or customers because of  what has happened.”

76-year-old Kanakana Ravele is concerned that he was not paid when he lodged his first claim.  He is hopeful that he will be paid this time around.

“I’m happy, but I’m concerned because we had previously lodged similar claims, but we did not get anything. We should have received money by now since we lodged our first claim last year. I’m lodging a claim for the second time now, but I’m happy because I’m confident that I will get my money.”

Ravele says he is still shocked at the collapse of the bank.

“The collapse of VBS Bank affected me a lot because I used to get a monthly payment for the interests of my investment. I was shocked when I arrived at the bank and informed that I could not get my monthly payment because [there was] no money in the bank. I don’t think VBS Bank will come back again.”