Defunct uniBank Ghana Limited under the receivership of Nii Amanor Duodoo has sued Dr. Kwabena Duffour, HODA Holdings Ltd, Star life Assurance and 7 others at the High Court.
In a writ of summons, Nii Amanor Dodoo, said the Dr Kwabena Duffour, Hoda Holdings Limited, Integrated Properties, Dr Kwabena Duffour II, Ekow Nyarko Dadzie-Dennis and Boatemaa Kakra Duffour-Nyarko “are jointly and severally liable for the repayment of ¢5.7 million (together with applicable interest) to the Plaintiff.”
The Receiver claims that “the various transactions identified in this action and variously described in the Statement of Claim, resulting in Unlawful Loans, the Unlawful Advances, the Unlawful Guarantees as well as the acquisition of properties and assets in the name of shareholders, their related interests and/or connected persons are unlawful.”
Nii Amanor Dodoo said by so doing, Dr Kwabena Duffour II, Ekow Nyarko Dadzie-Dennis and Boatemaa Kakra Duffour-Nyarko have breached their duties to him and are liable for all losses occasioned by their act of breach.
Revocation of license
The central bank merged uniBank with other insolvent banks to form the Consolidated Bank Ghana Limited in 2018.
Announcing the consolidation of uniBank along with the other banks on August 1, 2018, the Governor of the BoG, Dr. Ernest Addison said reports from the official administrator, KPMG stated that uniBank was balance sheet insolvent.
“Among other things, the bank’s interest income and other sources of income are insufficient to cover the associated cost of funds of underlying borrowings and liabilities, as well as overheads of about GH¢0.31 billion per annum.”