THE REGISTRAR OF COMPANIES AND INTERMARKET ASSET MANAGEMENT LIMITED [2020]DLHC9978

Date	2020-07-17
Suit No.	SUIT NO. CM/WBC/0494/2020
Citation No.	[2020]DLHC9978

HER LADYSHIP JUSTICE ANGELINA MENSAH-HOMIAH (MRS.)

GLORIA COFIE WITH EBO DANTSE BENJAMIN FOR THE PETITIONER

EMMANUEL AMISSAH FOR THE RESPONDENT

[2020]DLHC9978
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													<main id="main" class="content" style="min-height: 60rem" >IN THE MATTER OF INTERMARKET ASSET MANAGEMENT LIMITED<o:p></o:p>AND<o:p></o:p>IN THE MATTER OF THE BODIES CORPORATE (OFFICIAL LIQUIDATIONS)
ACT, 1963 (ACT 180)<o:p></o:p>AND<o:p></o:p>IN THE MATTER OF A PETITION BY THE REGISTRAR OF COMPANIES
PRAYING FOR AN ORDER FOR THE OFFICIAL WINDING UP OF INTERMARKET ASSET
MANAGEMENT LIMITED<o:p></o:p>THE REGISTRAR OF COMPANIES<o:p></o:p>AND<o:p></o:p>INTERMARKET ASSET MANAGEMENT LIMITED<o:p></o:p>[HIGH COURT, ACCRA]<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0cm 0cm 1pt;">

</div>COUNSEL:<o:p></o:p>GLORIA COFIE WITH
EBO DANTSE BENJAMIN FOR THE PETITIONER<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0cm 0cm 1pt;">

<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:150%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">EMMANUEL AMISSAH
FOR THE RESPONDENT<o:p></o:p>

</div>CORAM:<o:p></o:p>HER LADYSHIP JUSTICE ANGELINA
MENSAH-HOMIAH (MRS.)<o:p></o:p><div style="border-top-width: 1.5pt; border-top-color: windowtext; border-left: none; border-bottom-width: 1.5pt; border-bottom-color: windowtext; border-right: none; padding: 1pt 0cm;">

<p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt;
text-align:center;line-height:normal;border:none;mso-border-top-alt:solid windowtext 1.5pt;
mso-border-bottom-alt:solid windowtext 1.5pt;padding:0cm;mso-padding-alt:1.0pt 0cm 1.0pt 0cm">RULING<o:p></o:p>

</div>&nbsp;It is provided
under Section 170 of the Corporate Insolvency and Restructuring Act, 2020
(Act 1015) as follows:<o:p></o:p>“1.
The Bodies Corporate (Official Liquidations) Act, 1963 (Act 180) is repealed.<o:p></o:p>&nbsp; 2.
Despite the repeal of Act 180, the Regulations, notices, orders, directions,
appointments or any other act lawfully made or done under the repealed
enactment and in force immediately before the commencement of this Act shall be
considered to have been made or done under this Act and shall continue to have
effect until reviewed, cancelled or terminated.”<o:p></o:p>It is also
provided under Section 4 (1), 4 (2) (d) and 4 (3) of the Bodies Corporate
(Official Liquidations) Act, 1963 (Act 180) that:<o:p></o:p>(1) The
Registrar or any other person who is <o:p></o:p>(a) a creditor of
the company, <o:p></o:p>(b) a member or
contributory of the company, or <o:p></o:p>(c) the
Attorney-General, but only on the grounds specified in paragraph (c) of
subsection (2), <o:p></o:p>may present a
petition to the High Court for the official winding-up of t</main>