Final death knell for VBS, as liquidation application launched – Mail & Guardian

The prudential authority, which regulates South Africa’s banks, has applied to court to liquidate and finally wind up VBS Mutual Bank, it said in a statement on Tuesday. “This is as a result of the fact that VBS is hopelessly insolvent and massive frauds have been perpetrated against it,” the prudential authority said in a statement.

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Publish date : 2018-10-31 00:16:53

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