VBS liquidator pays R458m to creditors as hunt for looted cash continues
Anoosh Rooplal says no stone is left unturned in recovery efforts
12 December 2024 - 19:12
The liquidator of the defunct VBS Mutual Bank, which went under after it became a playground for politicians and their associates, has paid R458m to the bank’s creditors, including municipalities that unlawfully invested money in the bank.
The payments, described as dividends, mark the second time the liquidator has paid out since he took over the bank’s affairs, after payments of R159m in 2022 — amounting to 7c in the rand to proven concurrent creditors...
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