NSSA general Mr
NSSA owns 84 percent of
NSSA assumed controlling shareholding in
NSSA then resolved to liquidate the financial institution and pay off all depositors, but later decided to go for liquidation after taking into account the bank's weak financial position.
Under liquidation, creditors will only share the available money and since the process would be court-based, no creditor could directly claim any payment from NSSA directly afterwards.
"The Finance Minister (
"So what it means is the ministry is supporting NSSA's position to liquidate the bank."
No comment could be obtained from Dr Mangudya and Minister Chinamasa at the time of printing.
RFHL, through its lawyers
RFHL said there was an appeal before the
They had hoped in the event that the appeal was successful, control of the bank would revert to RFHL.
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