Deposit-Taking or Not: The Curious Case of Menzgold Gh Ltd and The Dilemma of the Bystander

August 13, 2018

The Bank of Ghana (BoG) in furtherance of its supervisory powers under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) has embarked on a ‘house’ cleaning exercise within the banking and financial sector with the aim of, among others, sanitizing and bolstering confidence in the sector. This exercise has led to the BoG […]

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Who Should Regulate Menzgold – BOG or SEC?

August 9, 2018

In November 2017, the Bank of Ghana (BOG) via notice[i]cautioned the public against transacting business with Menzgold Ghana Company Limited (Menzgold). The notice further stated that anyone who continues to transact business with the company “does so at his or her own risk, and the Bank of Ghana will not be liable to such clients […]

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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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Airline Passenger’s Responsibility to Be On Time

July 26, 2018

An Isreali magistrate court has dismissed an action brought by a passenger who missed his flight. The court pointed out that it was the responsibility of a passenger to arrive on time at the boarding gate. The Plaintiff, in this case, purchased a ticket for a flight from Tel Aviv to Istanbul and then from Istanbul […]

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Of Stare Decisis and The Supreme Court of Ghana

July 19, 2018

Recent decisions of the Supreme Court appear to create more uncertainty about the state of the law than settle the principles of law. As the highest Court of the land whose decisions are binding on all other courts, one would expect that the Supreme Court will be consistent on points of law so as to […]

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Farewell to Justice William Atuguba

July 16, 2018

The name “ATUGUBA” became a household name in Ghana following the 2013 Presidential Election Petition. For those in the legal fraternity, and probably for media practitioners, the name had been a household name for decades prior to the election petition in 2013. The private legal practitioner, Magistrate, Prosecutor, Supreme Court Judge and at some point, […]

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English Court Rejects Tullow’s Force Majeure Defence to Contract Termination

July 9, 2018

The Business and Property Courts of England and Wales in the case of Seadrill Ghana Limited v Tullow Ghana Limited[1]has rejected a force majeure defence advanced by Tullow in response to an unlawful termination of contract claim by Seadrill.  The relevant facts are as follows. Tullow hired from Seadrill a semi-submersible rig (by name West […]

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Why a Properly Drafted Third Party Guarantee Agreement Matters

July 4, 2018

The Supreme Court in Clipper Leasing Corporation vs Attorney General & Ghana Airways in Liquidation[1]has highlighted the need for properly drafted third party guarantee agreements as a means of reducing the risks and losses involved in business.  In this case, the Court had its eye on the risk of insolvency. The Appellant, in this case, […]

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Foreign Ownership of Freehold Interest in Ghana

June 28, 2018

The Supreme Court in the case of Martin J Verdose v Patricia Abena Verdose-Kuranchie[1] has affirmed the constitutional limitation on the ownership of freehold interests in land by foreigners. In this case, the Petitioner, a Dutch, married the Respondent, a Ghanaian, in Holland. They moved to Ghana and went on to adopt two children. They […]

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