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Appointment of Receiver of defunct uniBank breach of SDI Act – Court rules

The Commercial Court in Accra has declared the appointment of Nii Amanor Dodoo as receiver of uniBank Ghana limited as a breach of the Specialized Deposit-Taking Institutions Act (Act 930).

Making the declaration Thursday 24th June 2021, the court presided by Justice Afi Agbanu-Kudemor also ruled that Mr. Amanor Dodoo’s acceptance of the job is in breach of the Act.

The court held that Nii Amanor Dodoo ought not to have accepted the appointment as a receiver when he acted as a member of the team of accountants from KPMG who were appointed by the Bank of Ghana as the official administrator of uniBank.

In that regard, his acceptance of the appointment was a clear case of conflict of interest and therefore illegal.

The court subsequently struck out all matters on the docket regarding the case.

It granted an application by Dr. Kwabena Duffuor to strike out a writ of summons issued by the receiver for illegality and a consequent lack of capacity in the takeover of Unibank.

After the hearing, lawyers for Dr. Kwabena Duffuor declined to comment.

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