The Bank of Zambia issued an update on the liquidation of Investrust Bank Plc, rebutting recent public statements by alleged former employees and reiterating that employee-related claims will be handled strictly under the statutory order of priority set out in the Banking and Financial Services Act, 2017 and other applicable laws. No category of claims will be settled outside that legal framework. The update notes that some former employees have started court proceedings over their claims, and the Bank will await the courts' determination. Any distributions remain subject to available funds and can be considered only after legal, administrative and accounting processes are completed. The Bank said it is continuing to realize assets to maximize recoveries for creditors, but warned that asset holdings do not translate into immediate cash because recoveries depend on factors including market conditions, valuation requirements, legal processes, ownership disputes and title verification. It also reiterated that it took possession of Investrust because the bank was insolvent, and that government funds were primarily used to support depositors, particularly small depositors, to safeguard financial system stability.
Bank of Zambia2026-07-14
Bank of Zambia says Investrust liquidation claims will follow statutory priority, with no preference for employee claims
The Bank of Zambia said claims in the Investrust Bank Plc liquidation, including employee claims, will be settled only in line with the statutory order of priority under the law. It added that some former employees have gone to court, while any distributions depend on available funds, completion of required processes and the pace of asset realization.