The High Court has approved an application by the Reserve Bank to liquidate Interfin Bank after it failed to secure fresh investment and appointed the Depositors Protection Corporation (DPC) as the provisional liquidator.
Interfin had been under the management of a curator since June 2011 after it was found not to be in a safe and sound financial position. During that time, up to 12 potential investors were considered but none of them were successful.
The central bank warned last December that it would not extend the bank’s curatorship period which lapsed at the end of last year.
“Take notice that on Wednesday the 28th day of January, 2015 the High Court at Harare, issued an order for the provisional liquidation of Interfin Bank Limited, and the Depositors Protection Corporation has been appointed provisional liquidator of the company,” read a notice in the Government Gazette.- The Source