UT Bank receiver frustrating Woyome's ₵51.2m judgment debt retrieval- AG

UT Bank receiver frustrating Woyome's ₵51.2m judgment debt retrieval- AG
Source: Ghana | Myjoyonline.com
Date: 15-10-2018 Time: 06:10:30:am
Attorney-General Gloria Akuffo

The Attorney General Gloria Akuffo has accused receivers of defunct UT Bank Price Waterhouse Coopers and businessman Alfred Woyome of colluding to prevent the state from selling his properties to satisfy a 51.2million cedis debt. 

The AG maintains the businessman used the said properties as collateral to secure loan in excess of nine million cedis from the bank months after the bank claimed to have bought the properties. 

The three properties in dispute are residential facilities located at Trassaco Valley estates and Accra New town. 

The receiver of UT Bank Eric Nana Nipah claims the bank acquired them on 5th April 2013 and 13th May 2014. The property at New town the bank maintains was used as collateral by Mr. Woyome to secure a loan in excess of 9million cedis from them. 

The receiver further states in his witness statement to the Supreme Court that the company is yet to pay back the money making it difficult for the bank to pay its depositors and other creditors. 

But in a sharp rebuttal, the AG argues the claims of the bank cannot be true. 

The state's witness statement signed by Chief State Attorney Stella Badu explains the bank allowed Mr. Woyome to use the Trassaco Valley property to secure a loan on 13th May 2014. This is eleven months after the bank had supposedly bought the property.

The  AG quizzes; "the acceptance of plot no. 267, Trassaco estates Accra as collateral for a loan given by UT Bank to Mr. Woyome shows that to the knowledge of the bank, it never in truth and fact acquired plot number 267..."

On the second property also located at Trassaco Estates, the AG believes the claim of acquisition on 6th May 2013 is untrue. She explains, "the same property was used by Mr. Woyome as a security for a loan given by the bank on13th May 2014."

This is 12 months after the bank claimed to have bought the property.  The AG concludes that "exhibits 2, 3 and 4 are products of the collusion between Mr. Woyome and UT Bank and merely evidence of an adroit but wicked machinations by Alfred Woyome to deny efforts by the state to enforce a judgement in this suit"

She adds that "the purported deed of mortgage and the offer of a loan were made in anticipation of the review judgement in the suit, which was barely a month away"

For the residential facility at Accra New town the AG says the claims of ownership by private citizens Abena Akyaa, Eric Akuamoah and Godfred Opare-Djan are completely false, adding that "the Attorney General will in cross-examination expose the falsity  and dubiety of the claimant's claims"