PRESS RELEASE-COMMENCEMENT OF PAYMENT OF PROTECTED DEPOSITS FOR CHASE BANK LIMITED IN LIQUIDATION AND LODGING OF CLAIMS BY CREDITORS.
For Immediate Release
COMMENCEMENT OF PAYMENT OF PROTECTED DEPOSITS FOR CHASE BANK LIMITED IN LIQUIDATION AND LODGING OF CLAIMS BY CREDITORS.
Payment of Insured Deposits
- Pursuant to the gazette notice by Central Bank of Kenya and subsequent press releases on appointment of Kenya Deposit Insurance Corporation as the liquidator of Chase Bank Ltd effective 16th April 2021, Notice is hereby issued on commencement of payment of protected deposits to all eligible depositors of Chase Bank Ltd (In liquidation) in accordance with Section 33 of the KDI Act, 2012.
- Depositors of Chase Bank limited (In- Liquidation) are therefore advised to collect, complete and return the claim forms in respect of their deposit claims from:
- SBM Bank Kenya Limited (SBM Bank) branches country wide.
- The claim Forms shall be available during office working hours with effect from 11th May, 2021. The Forms can also be downloaded from KDIC website: www.kdic.go.ke. Duly completed Forms with attachments as listed on the Forms should be returned as soon as possible to the above locations to facilitate payments. For all approved claims, payments will be processed through Real Time Gross Settlement (RTGS) direct to the claimant’s bank account.
- It should be noted that only insured deposits up to a maximum of KShs500,000 shall be paid immediately upon verification. Balances of deposits above the insured threshold and other creditors’ claims will be paid equitably as and when the Liquidator accumulates sufficient funds from the liquidation process.
Lodging of Claims by Creditors
- All eligible creditors of Chase Bank Ltd (in liquidation) are hereby notified to lodge their claims with the liquidator for verification.
- The proof of debt forms shall be available from Kenya Deposit Insurance Corporation offices on UAP OLD MUTUAL TOWERS, 17TH FLOOR UPPERHILL NAIROBI, during office working hours with effect from 11th May, 2021. The Forms can also be downloaded from KDIC website: www.kdic.go.ke.
- Duly completed Forms with attachments as listed on the Forms should be returned to the same location or emailed to email@example.com
- It should be noted that creditors’ duly completed claims will be paid equitably with depositors’ balances above the insured threshold in accordance with KDI Act 2012.
- Depositors, creditors or any other stakeholder with any questions can call +254 20 667000/ 0709 043000 or email on firstname.lastname@example.org for more information.
KENYA DEPOSIT INSURANCE CORPORATION
10th May 2021.