Dr Kwabena Duffour and shareholders of the defunct uniBank have initiated legal processes at the Accra High Court seeking to take back the bank, which was collapsed by the Bank of Ghana (BoG) for allegedly being insolvent.
They are praying the court to order the central bank to reverse the takeover of the bank, which has since August 1, 2018 been consolidated with four other local banks collapsed by BoG to on liquidation grounds.
They argued in a writ issued at the court on August 20 that UniBank that the government of Ghana significantly contributed the purported downgrading of the financial position of the bank by BoG from 10.75 to negative.
“The purported downgrading of the financial position of uniBank by the defendant was in significant part, due to the defendant unreasonably and unjustifiable impairing of government and quasi government exposures to uniBank, including validated payment certificates issued to contractors by government,” the documents stated.
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By 3news.com|Ghana
The post Kwabena Duffour and shareholders sue BoG to reclaim defunct uniBank appeared first on 3newsgh.
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