Company Law

Are the Directors of the Failed Banks in Serious Trouble?

August 7, 2018

The conversation relating to the August 1, 2018 announcement of the ‘collapse’ and so-called ‘consolidation’ of the five banks[1]went from taking stock of the intensity of what had happened and quickly veered into what ought to be the personal liability of the directors and management involved with these banks. Over the rest of the week […]

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What, in Law, has Happened to the Five Collapsed Banks?

August 6, 2018

While the majority of players and stakeholders in the financial space welcome the recent Bank of Ghana (BOG) intervention regarding the recent the ‘collapse’ of the five banks[1]and the creation of the new Consolidated Bank Ghana Limited (CBG), this move has generated some uncertainty over the legal dimensions of the regulator’s intervention. In the news, we have […]

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Can the government dissolve the GFA?

June 11, 2018

On June 7, 2018, the Government through its Minister of Information issued a press release stating that the “…Government has decided to take immediate steps to have [emphasis] the GFA dissolved”. This statement was issued on the back of Anas Aremeyaw Anas’ documentary, Number 12 which unearthed massive corruption in football administration in Ghana between […]

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Unibank vs UT Bank and Capital Bank: Spot the Difference?

March 22, 2018

The Bank of Ghana (BOG) on March 20, 2018, appointed KPMG as “official administrator” of Unibank Ghana Ltd (“Unibank”). According to the BOG, the appointment of the official administrator is to save Unibank from imminent collapse and prevent losses to depositors and creditors. This is the second time the BOG has intervened in the operations […]

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Did The Minister for Finance Flout Corporate and Banking Rules for Political Interests?

October 5, 2017

The Minority in Parliament  on 5 September 2017 gave a press release with respect to an approval given by the Minister of Finance (“Minister”) concerning a credit facility taken by McDan Shipping Company (“McDan”) from the Agricultural Development Bank (“Bank”).  According to the government, the Bank (through its Managing Director) sought the approval from the […]

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