KDIC Gives Trust Bank Ltd’s Depositors and Creditors Two Weeks to File Claims

In a notice dated 6^th February 2018, the Kenya Deposit Insurance Corporation (KDIC) has declared its intention to make the 7^th payment to other creditors and all depositors of Trust Bank Ltd which is currently under liquidation. The notice is in accordance with rule 107 of the Company (winding up) rules.

KDIC is mandated to handle liquidations under section 34A of the Banking Act which states: “The Central Bank shall upon approval of a voluntary liquidation, appoint the Kenya Deposit Insurance Corporation to undertake the approved voluntary liquidation.”

The notice states: “[…] All depositors and other creditors are required to file their claims with [KDIC] not later than 20^th February 2018 to facilitate reimbursement of deposits and other creditors’ claims.”

However, the depositors and creditors who have already filed their claims are not required to lodge fresh claims. Claim forms can be downloaded online or collected from KDIC’s office.