uniBank directors, shareholders sued over bank collapse
The Receiver of uniBank, Nii Amanor Dodoo, has sued the 17 shareholders of the now-defunct bank over a GH¢5.7 billion debt incurred by the bank.
GH¢5.7 billion debt.
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The plaintiff is, accordingly,
suffered.
The defendants are:
Assurance, Bolton Portfolio Ltd and
The rest are Opoku Gyamfi Boateng, Prof. Newman Kwadwo-Kusi, Owusu Ansah Awere, Ekow Nyarko Dadzie-Dennis, Clifford Duke Mettle, Boatemaa Kakra Duffour- Nyarko, Kofi Kyereh Darkwah, Nana Boakye Asafu-Adjaye
Reliefs
In a writ of summons issued on September 4, 2018, the plaintiff is also praying the High Court to declare that the defendants are liable for
the repayment of the GH¢5.7 billion loss.
He is seeking a declaration that assets acquired through the unlawful use of uniBank’s funds should be held in trust for the bank.
Nii Dodoo is further pleading with the court to return and/or transfer all the assets listed in documents attached to the case and which are found to have been acquired with funds unlawfully taken out of uniBank.
A further order directed at the defendants to account to the plaintiff for all advantages, benefits, gains
The plaintiff also wants the court to order the defendants to refund the money with interest.
Inspection
In a related development, the court will, on September 19, 2018, hear a motion on notice for an order of inspection, detention, interim preservation and appointment of receiver and manager.
Counsel for the plaintiff,
steps and /or do all necessary acts to inspect
An order compelling the defendants and their agents to facilitate the proposed inspection of assets is also being sought.
The applicant is praying the court to grant an order for detention and interim preservation of the assets pending the final determination of the substantive suit.
An order directing the Inspector General of Police to designate an officer to take immediate steps to assist the registrar of the court to execute the orders of the court that will flow from the present application is also being sought.
The applicant is also praying the court to appoint a registrar of the court as the receiver and manager of the assets of uniBank until the final determination of the suit, as well as an order permitting the duly appointed receiver and manager to appoint or engage any individual or individuals he or she considers qualified to assist him or her in the execution of his or her duties as receiver and manager of the assets.
Background
uniBank is one of the seven local banks that collapsed as a result of what the Bank of Ghana (BoG) described as “poor corporate governance and mismanagement of depositors’ funds”.
The latest suit is a countersuit to an earlier action filed by
He is fighting for an injunction restraining the BoG from placing uniBank’s good assets and liabilities under the umbrella of Consolidated Bank
Ghana Limited.
uniBank was one of five banks merged into the Consolidated Bank which is100
Writer’s email: [email protected]
Click here to download a copy of the suit
