Capital Bank property goes under the hammer

Business Reporter

CAPITAL Bank liquidator, Hardwell Tapfumaney has okayed the auctioning of the closed bank’s property in a fundraising overdrive to pay off debtors.

The exercise is set to be conducted by Auctions World Zimbabwe (AWZ)  and  vehicles :Toyota Coaster 35 seater,Mitsubishi Colt 3000,Nissan Sunny Ex-Saloon ,Nissan Sulphy  and a Mazda 626 are some of the priced  assets to go under the hummer.

The other property to be sold includes office furniture, computers , printers and accessories.

The bank was placed under  liquidation in 2019 after the country’s high court deemed it incapable of meeting debt obligations.

The court  appointed a  liquidator for the bank, which is more thanUS $35 million in debt.

The country’s National Social Security Authority reportedly filed for the provisional liquidation after injecting US$24 million into the failing lender in 2012, ultimately removing it out of curatorship. The bank’s poor performance in the years that followed has led to the court’s decision.

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