ADVERTISEMENT

Unibank shareholders file counter suit against receiver

The three, Dr. Kwabena Duffuor, Professor Newman Kusi and Boatemaa Kakra Duffuor Nyarko, are seeking the court to declare that the procedure leading to the appointment of KPMG as an official administrator was unlawful.

Major shareholder of the defunct uniBank Ghana Limited, Dr. Kwabena Duffuor

The receiver; Nii Amanor Dodoo sued the founder of the Unibank, Dr. Kwabena Duffuor and 16 others for the same reason.

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

ADVERTISEMENT

The three, Dr. Kwabena Duffuor, Professor Newman Kusi and Boatemaa Kakra Duffuor Nyarko, are seeking the court to declare 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.

Again, they want the court to declare that the plaintiff was not authorized by law to set aside, impugn or interfere with any or all transactions duly entered into between Unibank and any of its customers.

The defendants also deny abusing their fiduciary duties and further indicate that it was on record to have obeyed all given rules from the Central Bank.

The Receiver for uniBank, Nii Amanor Dodoo, earlier sued the 17 shareholders of the now-defunct bank over the repayment of a GHC 5.7 billion debt.

READ ALSO: Report to work on time – Akufo-Addo tells NABCO recruitsReport to work on time – Akufo-Addo tells NABCO recruits

ADVERTISEMENT

According to the receiver the GHC 5.7 billion debt, was left by the shareholders.

The plaintiff, Nii Amanor Dodoo, said that defendants “have breached their duties as directors of uniBank Ghana Limited, and are liable for all the loss to uniBank Ghana ltd by their acts of breach.”

uniBank was one of the five local banks that was merged on August 1, 2018, to form the Consolidated Bank Ghana over what the Central Bank described as poor corporate governance and mismanagement of depositors’ funds.

subsequently, Dr. Kwabena Duffuor, one of the defendants in this case, and a former Governor of the Bank of Ghana sued the central bank over the revocation of uniBank’s operating license.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.com.gh

ADVERTISEMENT