The Court of Appeal has declared the decision of the Bank of Ghana to revoke the license of Unicredit as an unlawful exercise of its powers and has therefore quashed the revocation of Unicredit Ghana Limited’s license.
The revocation of the financial company’s license was contained in the Bank of Ghana’s notice dated 16th August 2019.
Background
The mother company of Unicredit Savings and Loans Company – HODA Holdings Limited in August 2019 sued Dr. Ernest Addison and the Bank of Ghana for revoking the license of the company.
In the company’s affidavit filed at the Human Rights Division of the High Court, Hoda Holdings said its funds of over GHS 54 million were locked up with Unibank before it was forced to cease operations by the central bank in 2018 and it has since been trying to retrieve it.
Hoda Holdings wants “An Order of Certiorari directed at the 1st and 2nd Respondents to bring up to this Honourable Court to be Quashed the Notice Dated the 15th day of August 2019 declaring Unicredit Ghana Limited insolvent and revoking the license of Unicredit Ghana Limited to operate as a Specialized Deposit-taking Institution.
An Order of Interlocutory Injunction restraining the Respondents, their agents, assigns, privies hirelings or otherwise howsoever described from interfering with the Operations of Unicredit Ghana Limited and to refer the Subject matter of the Instant Application to Arbitration.”
Also;
is battling for his life after doctors at Korle-Bu Teaching hospital sent him home for his inability to afford medical treatment for his fractured leg.
He told crimecheckghana that he was involved in an accident when he bumped into a pothole after he had gone to deliver an item.
Luckily for him, he said was rushed to the Korle-Bu Teaching hospital where doctors started treating his injured leg.
However, he said he could not afford the full treatment, which would have included a surgery costing an amount of Seven Thousand Ghana cedis.