VBS depositors can no longer claim R100k from branches

VBS Mutual Bank liquidator Anoosh Rooplal has informed the doomed financial institution’s depositors and creditors that the chance to claim a maximum of R100 000 at any Nedank branch has ended.

The affected parties include individuals, stokvels and burial societies.

“The opportunity which retail depositors had within which to have up to a maximum of R100 000 of their claims honoured at any Nedbank branch has now expired. The last day to claim such money was July 8,” Rooplal said in a notice to creditors dated July 13.

According to Rooplal, depositors who fall within the permitted categories of claimants that could claim funds from Nedbank but failed to do so can no longer make use of such a process.

“Your only option is to submit a claim against VBS as set out in the Insolvency Act,” he told depositors.

Rooplal warned all creditors who have not previously lodged their claims, including non-retail depositors, to file and prove claims against VBS and do so in strict compliance with the Insolvency Act.

“If you are unsure of the requirements of the Insolvency Act, you are urged to seek professional and/or legal assistance, which costs will be for your own account,” he stated.

He notified depositors that communicating with him would be “a futile exercise”.

In May, Rooplal warned the municipalities, suppliers, retailers, businesses and permanent shareholders owed by the VBS that they were running out of time to lodge their valid claims.

He warned that there was no certainty that their claims would be accepted by the Master of the High Court.