uniBank’s Sharedolders File Injunction Against Sale of Asset

The shareholders of uniBank have filed a suit to prevent the management of CBG from selling off the assets of the bank.

According to the shareholders, any attempt to sell the bank’s assets will impact them negatively, since the revocation of the licence of the bank is now a matter of arbitration.

A writ filed by the shareholders said allowing the assets to be sold will cause them “irreparable harm and hardship which cannot be compensated by money”.

The writ also raised concerns over the conduct of the receiver, Nii Amanor Dodoo, who the shareholders say is “conducting himself in a pernicious, deleterious and baleful manner designed at totally impairing uniBank.”

An Accra High Court has referred parts of the case between the shareholders and the Receiver to arbitration.

The appointment of an arbiter by Justice Jennifer Abena Dadzie follows an application by Mr Amanor Dodoo, through which he seeks to dismiss the counter-claim of some of the shareholders of the now-defunct bank.

However, the court said the uniBank case is not frivolous.

The Receiver, in his application, prayed the court to strike out the amended statement of defence and the counter-claim of three of the shareholders.

He said the pleadings by the defendants were an abuse of the court’s processes and attempt to delay the fair resolution of the dispute, which is “very simple as it involves the recovery of sums of money, which have been allegedly taken out of the accounts of uniBank, which is now in receivership.”

The Receiver sued the founder of the bank, Dr Kwabena Duffuor and 16 others to pay GHS5,712,623,145 which was allegedly misappropriated.