Source: Royal Bank directors to face claim | The Financial Gazette March 29, 2018
The ruling means the directors will have to face the claim raised by John Chikura on behalf of creditors, who include depositors, of Royal Bank, who were owed $12,5 million when the bank closed.
THE High Court has cleared the way for a civil claim against the directors of Royal Bank of Zimbabwe for alleged gross negligence and mismanagement, which the liquidator says resulted in the collapse of the financial institution.
Judge President, George Chiweshe, dismissed an application by the directors challenging the appointment of John Chikura, the chief executive officer of the Deposit Protection Corporation (DPC), as the liquidator of the financial institution that collapsed in 2012.
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