Audio By Carbonatix
The Supreme Court in a unanimous decision upheld SIC’s appeal against Ivory Finance Company Ltd regarding a credit guarantee case which has been in court over the last five years.
The Highest Court of the land made orders remitting the substantive matter of fraud to be heard on its merits by the High Court.
In November 2013 Ivory Finance sued SIC to recover guarantee bond amount of GH¢19.3 million SIC issued in favour of Ital Construct, a construction firm.
However, Ivory Finance obtained a consent judgment that SIC believed was procured fraudulently and for which SIC dismissed its then Managing Director, Doris Awo Nkani.
The Insurance giant has been seeking for the consent judgment to be set aside and its alleged case of fraud in the acquisition of a consent judgment to be heard on its merits.
Commenting after the Supreme Court orders, the Management of SIC Insurance Company noted that they had always believed in their case and remained faithful in the rule of law and in the judiciary system of Ghana.
The Management of SIC has thanked its numerous stakeholders for keeping faith through the trying times.
SIC says it is focused on delivering on its promise to serve the insuring public and to provide the needed leadership in the industry.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Epstein survivors’ calls to meet King Charles and Queen harder to ignore as US visit approaches
53 seconds -
UN Secretary-General names Ghana’s Anita Kiki Gbeho as South Sudan envoy
3 minutes -
Mali withdraws recognition of Sahrawi Republic, backs Morocco’s autonomy plan
7 minutes -
Gov’t distributes over 8,500 laptops to One Million Coders project
8 minutes -
Julius Debrah, ‘man to beat’ as NDC’s James Agbey dismisses Musah Dankwah’s polls
14 minutes -
GPRTU in Savannah Region to protest alleged eviction in Damongo
43 minutes -
Re: Reinsurance does not replace process — A response to the SIGA–SIC defence
58 minutes -
Gender Ministry supports Harriet Amuzu in ongoing abuse case
1 hour -
AG joins plaintiff to scrap OSP ?: We should be mindful of the mischief in this – Bobby Banson
1 hour -
Samson Lardy Anyenini questions willingness of Attorneys-General to prosecute political colleagues
1 hour -
It is only fair the OSP is heard in Supreme Court case – Bobby Banson
1 hour -
Asiedu Nketia resumes Ashanti tour, second leg kicks off on Sunday
2 hours -
NLA denies salary cut claims, threatens legal action over reports
2 hours -
BoG Governor honoured for stabilising cedi, improve inflation
2 hours -
Kyebi Easter Homecoming 2026: A resounding success!
2 hours