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UT Bank Policemen storm UT Bank HQ over $110,000 judgement debt

The policemen and court bailiffs were there following UT Bank’s inability fulfil a court judgement ordering it to pay a private company; Oxford Street Hotel $110,000.

  • Published:

On Thursday (August 3, 2017) armed policemen and court bailiffs went to the UT Bank headquarters to seal off the building.

Their action followed UT Bank’s inability fulfil a court judgement ordering it to pay a private company; Oxford Street Hotel $110,000.

The bank is said to have withdrawn the amount from the client’s account without rendering the needed service it had charged for.

READ ALSO: IES predicts an increase in fuel prices in August

After filing a suit against the bank, the court ruled that UT Bank pays Oxford Street Hotel $110,000.

At about 9 am on Thursday four armed policemen and two bailiffs arrived at the bank’s headquarters to execute the commercial court’s order which was awarded on June 12, 2017.

Around 10:18 am a notice of stay of execution was shown to the police and bailiffs who later left.

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Counsel for Oxford Street Hotel, Charles Tetteh told Graphic Online that his firm had not been served with the notice of stay of execution.

"I would not have gone for the services of the police and bailiffs if my firm had been served with the notice of stay of execution."

Background

The bank earlier filed a stay of execution of the court's June 12, 2017, judgment but on July 24, 2017, the court refused the stay saying the application had no merit.

READ ALSO: Go paperless or be punished, Bawumia tells Agencies

The court also held that the notice of appeal against its June 12, 2017, decision was incompetent having been filed in the High Court and not at the Court of Appeal.

Currently, the bank's motion for stay of execution at the Court of Appeal will be moved on October 16, 2017.

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