Curiously, Mr. Chris Diaz sits on the board of Imperial Bank.

A Shah was appointed CEO some 3 weeks ago.

It's not liquidity guys, Imperial bank's profile in the money markets has been very solid. Especially of late helped by cash from their bond issue. It's also not profits/ bad books, I work in the banking industry, everyone is shocked! We need to know what Gov.Patrick knows, there must be something cooking, maybe something illegal, money laundering... I can't think of anything else.

with imperial bank,what happens to the bond holders?

Who will be first?

Do you think this happened just overnight and that no Branch Manager would have had any knowledge of the situation. I believe i was cheated and lied by a Branch Manager who said the Bank is more healthier today than it has been in the last 8 years causing me to transfer substanial sums of money in the last 5 days. This morning, i hear the bad news that Imperial Bank is under receivership by CBK. Talked with Branch Manager and she is leaving on vacation starting Thursday. The FDR was for a 4 month period. When can i expect to be paid and what about the 19.5% interest?

If there is a problem, which is,then indeed Money Laundering is most probable.

Beancounters can give the gold advice, but my understanding is that it is usually people who for example have mortgages or have a fixed payment. Employees also rank pretty high
However, whoever is affected needs to contact KDIC fast.

Below is the KDIC view
Residual payment.
57. (1) Subject to section 33, there shall be paid out of the assets
of the institution in liquidation in priority to all other debts-
(a) the following statutory debts—
40 No. 10 Kenya Deposit Insurance 2012
(i) all taxes and local rates due from the institution at the
relevant date and having become due and payable within
twelve months next before that date not exceeding in the
whole, one year's assessment;
(ii) all amounts due by the institution as the employer of any
person under National Social Security Fund in respect of
contributions payable during the period of twelve months
immediately preceding the relevant date;
(iii) all Government rents not more than one year in arrears;
(b) all proper costs, charges and expenses, including the
remuneration of staff of the Corporation appointed to liquidate
an institution;
(c) all wages or salaries in respect of services rendered to the
institution by any employee other than a director during four
months next before the relevant date and all wages, whether
payable for time or for piece work, or any workman or
labourer in respect of services so rendered;
(d) all amounts due in respect of any compensation or liability for
compensation under the Work Injury Benefits Act, No. 13 of
2007,being amounts which have accrued before the relevant
date.
(2) The debts in subsection (1) shall—
(a) rank equally to be paid in full, unless the assets are
insufficient to meet them, in which case the debts shall abate
in equal proportions; and
(b) so far as the assets of the institution available for payment of
general creditors are insufficient to meet them, have priority
over the claims of holders of debentures under any floating
charge created by the institution, and be paid accordingly out
of any property comprised in or subject to that charge.
(3) In the event of a landlord distraining or having distrained on
any goods or effects of the institution within six months next before the
date of a winding-up order, the debts to which priority is given by this
section shall be a first charge on the goods or effects so distrained on,
or the proceeds of the sale of the goods or effects.

CBK bank supervision unit has been a cashcow foe many but with the new Governor mtu hana tamaa ya pesa its bound to happen. Citizen weekly the gutter had reported this issue sometimes last week