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NOTICE TO CREDITORS OF VBS MUTUAL BANK (IN LIQUIDATION) ("the Bank")


The first meeting of Creditors was held on Monday, 11 March 2019, in the Polokwane High Court. This meeting was the first opportunity for creditors to prove their claims against the Bank.

Unfortunately, very few creditors lodged claims and even fewer claims were proven. However, please note that this was not the final opportunity for creditors to prove their claims against the Bank.

Once the first meeting of creditors has been closed the liquidator will convene the Second Meeting of Creditors at which meeting creditors will have further opportunity to prove claims.

Advance notice of the second meeting of creditors will be given in terms of the provisions of the relevant legislation. Creditors are reminded that their claims must be lodged at the relevant Master's office at least 24 hours before the Second Meeting.

Creditors are encouraged to file the Proof of Claim documents in order that they can be treated as creditors of the Bank and receive their dividends in due course.

A Proof of Claim document (together with the relevant Power of Attorney) can be obtained from the following link:


Please CLICK HERE for Completion of Claim Forms Advise

Please CLICK HERE for Claim Form




NOTICE TO ALL CREDITORS


Please be advised that the Prudential Authority has brought interdictory and declaratory proceedings against the Master of the High Court regarding the Masters' entitlement to appoint a liquidator/s, which application has now become urgent.

VBS Mutual Bank has been cited in the proceedings as the question of appointing a further liquidator/s relates to the estate of VBS Mutual Bank.


VBS Mutual Bank will not, at this stage, be opposing the application and will abide by the decision of the Court.

If any creditor would like to be provided with a copy of the application papers, please email your request to Liquidator.VBS@sng.gt.com




Dear VBS Mutual Bank creditor / depositor.

VBS Mutual Bank was placed into liquidation by the North Gauteng High Court on 13 November 2018 and Mr Anoosh Rooplal was appointed as provisional liquidator by the Master of the High Court.

As per the Insolvency Act 24 of 1936, the liquidator's primary role is to trace and recover the assets of the Bank to the benefit of all of the Bank's creditors.


All of the legitimate creditors and depositors, who can justify and prove their claims against VBS will be able to do so at the meeting of creditors. This meeting has been scheduled by the Master for the High Court to take place at 10h00 on 11 March 2019 at the Limpopo High Court, 36 Biccard Street, Polokwane Central, Polokwane.

Creditors please CLICK HERE for further information regarding Liquidation.

To ensure that we have your correct contact details, Please e-mail the Liquidator at Liquidator.VBS@sng.gt.com with your cell phone number or any further queries.




For information during Curatorship (12 March - 12 November 2018), see below:


Dear VBS customer.

As per the South African Reserve Bank (SARB) press conference held on 9 July 2018, all transactional retail depositors, which include individuals, stokvels and burial societies who currently have up to R100 000 deposited in VBS Mutual Bank, will have their funds transferred to Nedbank.

Funds will be available to these transactional retail depositors from 13 July 2018 onwards at any Nedbank Branch.


Please CLICK HERE for further information

We sincerely apologise for any inconvenience caused to you and your families.

Please CLICK HERE for Notice of Motion: Vele Investments Proprietary Limited.

Please CLICK HERE for Notice of Motion: Madzonga, Mmbulaheni Robert.