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Thursday, October 21, 2021

Court strikes out name of one defendant in defunct uniBank case


An Accra High Court hearing the case between the Receiver of Defunct uniBank, Nii Amanor Dodoo and shareholders of the bank has struck out the name of one of the defendants, Clifford Duke Mettle.

Mr. Clifford Mettle was an executive director of defunct unibank until the Bank of Ghana revoked its license this year.

The action, according to the court was taken after Mr. Clifford Duke Mettle filed an affidavit in response to the suit filed by the Receiver, Nii Amanor Dodoo.

The Receiver earlier sued 17 shareholders of the defunct unibank including the Group Chairman, Dr. Kwabena Duffuor and his son, Dr. Kwabena Dufuor II.

But the court has removed Mr. Mettle from the case.

The remaining defendants are Hoda Holding Limited, Hoda Properties Limited, Integrated Properties Limited, Alban Logistics Limited, Starlife Assurance, and Bolton Portfolio Limited.

The rest are Prof. Newman Kwadwo-Kusi, Opoku Gyamfi Boateng, Owusu Ansah Awere, Ekow  Nyarko Dadzie-Dennis, Boatema Kakra Duffuor Nyarko, Nana Boakye Asafu-Ajaye, Alex Buabeng, and Kofi Kyereh Darkwa.

The receiver, Nii Amanor Dodoo is praying the court to hold the remaining shareholders jointly and severally liable for the repayment of about 5.7 billion cedis to uniBank Ghana Ltd.

The receiver also wants the 16 shareholders to account “for all advantages, benefits, gains, and profits derived from or obtained by virtue of assets referred to under relief.”

Meanwhile, Dr. Kwabena Duffuor, a former Governor of the Bank of Ghana, has also sued the central bank over the revocation of uniBank’s operating license.

Dr. Duffuor is seeking for an injunction restraining the Bank of Ghana from placing uniBank’s good assets and liabilities under the control of the Consolidated Bank Ghana Limited.

uniBank was one of five banks merged into the Consolidated Bank Ghana limited, which is 100 percent state-owned after the central bank revoked their licenses.

Unibank shareholders file counter suit against receiver
Three out of the 17 defendants who were sued by the receiver of now-defunct Unibank, KPMG, have filed a counter suit against the auditing firm and the receiver over the collapse of the bank.

In a counter suit, the three argue that the Central Bank would not have revoked Unibank’s license but for what they claim are acts of misrepresentation and the rent-seeking behaviour of KPMG and the receiver.

The three, Dr. Kwabena Duffuor, Professor Newman Kusi and Boatemaa Kakra Duffuor Nyarko, are seeking a declaration that the procedure leading to the appointment of KPMG as an official administrator was unlawful, illegal, and contrary to the prevailing and acceptable custom of the banking industry and sector.

Source: tnpnewsonline.com/Lawrence Segbefia

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