The Receiver of defunct uniBank, Nii Amanor Dodoo, has appealed the court ruling, describing his appointment as illegal.

Document sighted by Joy Business shows that the appeal was filed yesterday at 3pm at the Commercial Court Division of the High Court.

The action is coming after the Commercial Court presided by Her Ladyship, Afi Agbanu Kudomor ruled that Nii Amanor Dodoo acceptance of the job as receiver breaches the Specialized Deposit-Taking Institutions Act (Act 930).  

This is because he also acted as a member of the team of accountants from KPMG who were appointed by Bank of Ghana as the official administrator of uniBank.

But he wants the court ruling to be set aside because the court erred in the judgment.

Court rules appointment of Receiver of defunct uniBank in breach of SDI Act

On Thursday 24th June, 2021, the Commercial Court in Accra declared the appointment of Nii Amanor Dodoo as receiver of uniBank Ghana limited as a breach of the of the Specialized Deposit-Taking Institutions Act (Act 930).

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

Background

On August 1, 2018, the Bank of Ghana announced the consolidation of five indigenous banks to into Consolidated Bank Ghana.

The five collapsed banks included unibank Ghana Ltd, The Royal Bank Limited, Beige Bank Limited, Sovereign Bank Limited, and Construction Bank Ltd. 

They were described as insolvent and therefore not capable to operate.

Official Administrator, KPMG, in the course of its audit discovered that about ¢5.7 billion was owed by shareholders of uniBank as of March 20, 2018.

The ¢5.7 billion was the focus of a previous suit by Nii Amanor Dodoo who was acting as the Receiver.