Audio By Carbonatix
The Court of Appeal has by a unanimous decision upheld the Bank of Ghana's application that the suit by Dr. Papa Kwesi Nduom and others against the Bank of Ghana's revocation of the licence of GN Bank be referred to Arbitration.
The Court today June 2nd, 2022, held that per section 141 of the Banks and Specialised Deposit-Taking Institutions Act, 2016, Act 930, the forum for such a challenge is arbitration and not the court.
The Court held further that Dr Nduom and the other applicants had masqueraded their challenge to the decision of Bank of Ghana as a human rights application.
The Court therefore stayed the proceedings at the High Court and referred the matter to the Ghana Arbitration Centre.
The Court of Appeal panel of three Judges led by Justice Henry Coffie, and comprising Justice Eric Baah and Justice Novisi Ayine as members of the panel looked at the case.
Latest Stories
-
Leeds say boos during Ramadan pause ‘disappointing’
3 hours -
Premier League deletes Vicario social media post
3 hours -
Real Madrid beaten at home by Getafe for second successive loss
3 hours -
‘Clubs refused to look at me after my crash’ – Antonio on Qatar move
3 hours -
Mayweather to fight kickboxer before Pacquiao rematch
3 hours -
India and Canada reset ties with ‘landmark’ nuclear energy deal
3 hours -
Mahama should equally credit NPP for economic stability – Economist
3 hours -
Mbappe has knee sprain with no surgery planned
4 hours -
Interior Ministry releases funds to settle 2025 rent allowance arrears for security services
4 hours -
Ghana evacuates diplomatic staff from Iran; embassy shut indefinitely — Ablakwa
4 hours -
France to boost nuclear arsenal and extend deterrence to European allies
5 hours -
Chinese community in Ghana marks ‘Year of the Horse’ with grand new year festival
5 hours -
When regional instability becomes national risk: Ghanaian tomato traders killings
5 hours -
Photos: President Mahama meets Tanzania President Suluhu Hassan
5 hours -
Mahama calls for cessation of Iran-US-Israel conflict, urging return to dialogue
5 hours