UNIVERSAL MERCHANT BANK LIMITED vs. UP TRAVEL SERVICES LIMITED AND NEW PATRIOTIC PARTY

RULING On 2nd March 2023, the 2nd Respondent/Applicant (hereinafter called the Applicant) filed a motion on notice. The motion is praying the court to set aside its Order dated, 13th February, 2023 which joined the New Patriotic Party, as 2nd Respondent to this suit as upon the grounds contained in the affidavit in support. I wish to reproduce the relevant paragraphs of the affidavit in support in this delivery. 5. That the 2nd Respondent was served with an amended Application for appointment of a Receiver under the Borrowers and Lenders Act, 2020 (Act 1052) by the Applicant/Respondent herein for the following reliefs: a. To appoint a Receiver to control, possess and realise the security interest of the Applicant in the Security assets: the 100 buses to enable the recovery of the sum of Thirty-Two Million, Four Hundred and Ninety-Six Thousand, Six Hundred and Three Ghana Cedis, Twenty-One Pesewas (GH¢32,496,603.21) owed by the 1st Respondent. b. The 1st Respondent Company rel....