Lawyers of the Bank of Ghana (BoG) and the Attorney General’s (AG) Department today failed to show up in Court in the case of Dr. Papa Kwesi Nduom and two others versus Bank of Ghana and two others.
Dr. Nduom is challenging the revocation of the license of GN Savings and Loans by the Central Bank.
The parties in the case were expected in Court for directions from the presiding judge of Human Rights High Court, Justice Gifty Agyei Addo on the way forward with the case. However, only lawyers of the applicants, Justice Srem-Sai, Kenneth Ghartey and Godwin Dzah, and lawyers for the receiver of GN Savings and Loans, Philip Addison, were present in Court.
In spite of the absence of legal representatives of the two main respondents (Bank of Ghana and the Attorney General’s Department), Justice Gifty Agyei Addo’s Court proceeded to issue its directives to the parties.
“Leave is hereby granted the 3rd Respondent (GN Savings and Loans in Receivership) to file its written submissions within ten days from today. The 1st (Bank of Ghana) and 2nd (Attorney General) Respondents are to file their written submissions within ten days of being served with today’s Court notes. The case is adjourned to 11th May 2020 at 9.00 am for determination and a date for judgment” Justice Gifty Agyei Addo ruled.
This is the second time the trial Court is directing the Bank of Ghana and the Attorney-General to file their written addresses in the matter. The first order given by Justice Gifty Agyei Addo’s Court expired on 13th April 2020. The BoG and Attorney General’s Department failed to file their written submissions as at the 13th of April 2020. The Bank of Ghana and the Attorney General have also refused to fail any affidavits in opposition to the action of Dr. Nduom, challenging the revocation of the license of GN Savings and Loans.
Background
The Bank of Ghana (BoG) on Friday, August 16, 2019, revoked the licences of GN Savings and Loans and 22 other insolvent savings and loans companies and finance house companies. According to the BoG, GN Savings and Loans, despite its reclassification from a universal bank to a savings and loans company in January 2019, the company was unable to resolve its liquidity crisis.
Source: Ghana/Starrfm.com.gh/103.5FM
