UniBank Receiver Files Application To Stem Arbitration Hearing

Nii Amanor Dodoo

NII AMANOR Dodoo,
Receiver for uniBank Ghana, has filed an application in court to halt an
arbitration hearing with shareholders of the bank. 

The
application filed by lawyers for Nii Amanor Dodoo has called on the court to
also make a determination on the previous ruling which directed the case for
arbitration.

This presupposes
that the expected hearing did not come on as expected at the Accra High Court
presided over by Justice Jenifer Dadzie.

The receiver
referred the matter to court after owners of Unibank sought to challenge the
bank’s liquidation by Bank of Ghana (BoG).

A former
Justice of the Supreme Court, Professor Justice Samuel Date-Bah, who was
appointed by the Commercial Division of the Accra High Court to arbitrate in
the case of the defunct uniBank, had written to the parties involved in the
matter to appear before him on Wednesday, June 19, 2019.

The appearance
of the 16 shareholders, the receiver of the bank, Nii Amanor Dodoo, and the
Attorney-General will allow Prof. Justice Date-Bah, as the sole arbitrator, to
determine whether or not the revocation of uniBank’s class-one banking licence
by the Central Bank was done in accordance with the tenets of the law.

The Accra
High Court, presided over by Justice Jenifer Dadzie, referred the matters
contained in a counter-claim filed by lawyers for Dr Kwabena Duffour II, one of
the 16 shareholders of the bank, for arbitration.

The
counter-claim argued that the revocation of uniBank’s licence was illegal.

The court,
pursuant to provisions of Act 930, referred the matter of the revocation to
arbitration and appointed Prof. Justice Date-Bah as the sole arbitrator on May
17, 2019.

The court
indicated that its decision to appoint an arbitrator did not, however, stop it
from adjudicating on the other counter-claims and that the presiding judge
would hear other reliefs in the counter-claims that did not fall under the
ambit of Act 930.

It was the
considered view of the court that not all the reliefs in the counter-claim
directly challenged the revocation of uniBank’s licence and the appointment of
the receiver.

The reliefs
included a declaration that the receiver did not have the right to “interfere
with the sanctity of any contract or transaction entered into between uniBank
and any of its customers or shareholders”.

Another
relief is an order for general, punitive and exemplary damages.

The ruling
by the court was as a result of an application filed by the receiver urging the
court to dismiss the entire counter-claim by the shareholders

Myjoyonline.com

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