The bank said the extension was to allow appeals lodged before the Administrative Court to be attended to. The extension will also see the institutions retaining the current curators until June this year.
Royal and Trust were placed under curatorship in 2004.
In 2006, shareholders lodged appeals with the Administrative Court citing inappropriate actions taken by their curators and the Registrar of Banking Institutions’ intention to cancel the registration of the banks.
The amalgamation into Zimbabwe Allied Banking Group is also a point of contention with both entities awaiting determination of their respective lawsuits.
Post published in: Economy