Duffour, 16 others sued over collapse of uniBank

Major shareholder of defunct uniBank, Dr. Kwabena Duffour and 16 others including his son have been dragged to the high court over the collapse of the bank.

Nii Amanor Dodoo, who is in receivership of the five collapsed banks –Beige Bank, Construction Bank, The Royal Bank, Sovereign Bank and UniBank, – to form the consolidated bank, filed the suit Tuesday, September 4.

He wants the court to make a declaration that transactions in the then uniBank “resulting in the Unlawful Loans, the Unlawful Advances, and the acquisition of assets in the names of shareholders, their related interests and/or persons related to the shareholders, are unlawful”. He is also praying the court to declare that directors of the bank acted in breach of their duties and should be liable for the collapse of the bank.

Mr. Dodoo further wants the court to declare the shareholders jointly liable for the repayment of the amount of GHS 5,712,623,145 given to uniBank Ghana Ltd by the Bank of Ghana. The receiver also wants the 17 shareholders to account “for all advantages, benefits, gains and profits derived from or obtained by virtue of assets referred to under relief.”

Dr. Duffour in August this year sued the Bank of Ghana for revoking his license. In the suit filed at an Accra High Court, his lawyer, Professor Raymond Atuguba of Atuguba and Associates among other things asked that the revocation of the bank’s license be declared as “null and void and in breach of Article 23 and 296 of the 1992 Constitution.”

Dr. Duffour is also seeking a declaration that the Consolidated Bank Ghana Limited cannot take over the bank’s assets and liabilities including deposits of depositors. Dr. Duffour also wants the High Court to order the Bank of Ghana to give him back his bank.