All persons entitled to claims from any of the collapsed microfinance companies should expect payment at least from the next one month.
It will however follow the completion of validation for such claims by the Receiver, Eric Nana Nipah of PricewaterhouseCoopers (PwC).
The latest directive was contained in a statement issued by Mr. Nipah
Per the mandate of the receiver, all persons and institutions entitled to payments by the affected companies are expected to complete proof of debt forms with relevant documents to back the claims.
Upon receipt of these documents, the Receiver is expected to validate the claims before he can initiate payment.
But such payments are expected to be effected after thirty days of receiving the claims.
“Creditors will be required to submit their claims by completing a PoD form to be designed by the Receiver. In filling these forms, Creditors will be required to attach relevant documentation supporting their claim(s) as well as amounts owed to them,” portions of the statement said.
It added, “the Receiver estimates that the process of validating and agreeing Creditor claims will take another 30 days from the date of the deadline for the submission of Creditor claims.”
Meanwhile the Receiver says it is currently assessing the state of affairs of the microfinance institutions in order to ascertain the types and values of their assets and liabilities.
This is expected to be completed within ten days.
citinewsroom