The Supreme Court has ruled that the Bank of Ghana (BoG) did not make any errors in revoking the license of UniCredit Ghana Limited.
A five-member panel, led by Justice Gertrude Sackey Torkornoo, unanimously affirmed this decision, Asaaseradio.com reports.
The Supreme Court overturned the Court of Appeal’s decision and upheld the High Court’s ruling in the case of the Republic versus Bank of Ghana, Ex Parte Hoda Holdings Limited.
On March 18, 2021, Justice Gifty Agyei Addo of the High Court ruled in favour of the Bank of Ghana, stating that UniCredit was insolvent before its license was revoked.
UniCredit had received multiple notices from the BoG to address its capital deficiency, with warnings that failure to comply would result in the…
