Globe Trust Depositors Remain Disgruntled
Even as liquidator of Globe Trust Mr. Nizam Ali says there is very little he can do at this time to reimburse the monies owed to depositors of a $100,000 and more, many persons are becoming disgruntled and frustrated at their returns.
A globe trust account holder today told this newscast that the money he got back is unbelievable and ridiculous. The depositor said that he had just about $100,000 in savings and he was today handed a check for 4000.
Like many other depositors who have since come forward and express their dissatisfaction, the man said that this situation is very heart aching. He is however calling on the government to step in and help those who have lost since the matter is no different to that of CLICO.
Another account holder told this newscast that she lost all of her severance pay in the bank. She received a cheque for $3000.
In an interview with this newscast, Liquidator Nizam ali said while those depositors who were part of pension plans, education Trust funds got back all their monies, this will not be the luck for those who had accounts of $100,000 and more.
Ali said he will however continue to pursue debtors in the court. He noted that the majority of the cases are against former directors of the institution, many of whom are now deceased.