THE REGISTRAR OF COMPANIES AND NICKEL KEYNESBURY LIMITED [2020]DLHC9981

Date	2020-07-29
Suit No.	SUIT NO.CM/WBC/0534/2020
Citation No.	[2020]DLHC9981

HER LADYSHIP JUSTICE ANGELINA MENSAH-HOMIAH (MRS.)

GLORIA COFIE WITH SHIRLEY OTU FOR THE PETITIONER

[2020]DLHC9981
																																						<div class="restriction-wrapper">
														<div class="container-lg">
															<div class="row">
																<div class="col-md-12 restricted-content">
																	<div class="restricted-content-img-wrapper">
																		<div class="lock-icon bounce-7">
																			<img class=""
																				src="https://www.dennislawgh.com/dl-assets/dl-images/lock-content.png"
																				alt="Subscription based content">
																		</div>
																	</div>
																	 
																		<a href="https://www.dennislawgh.com/login"
																		class="btn btn-primary btn-lg"
																		style="font-family: 'open sans'; text-transform: capitalize; border-radius: 8px"> 
																		Login to Read Full Case </a>
																	 
																	
																</div>
															</div>
														</div>
													</div>
													<main id="main" class="content" style="min-height: 60rem" >IN THE MATTER OF NICKEL KEYNESBURY 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>&nbsp;THE REGISTRAR OF COMPANIES<o:p></o:p>(PETITIONER)<o:p></o:p>AND<o:p></o:p>NICKEL KEYNESBURY LIMITED<o:p></o:p>(RESPONDENT)<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;">

<p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt;
text-align:center;line-height:115%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">SUIT NO.CM/WBC/0534/2020&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;DATE:
29THJULY, 2020<o:p></o:p>

<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:115%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">GLORIA COFIE WITH
SHIRLEY OTU FOR THE PETITIONER<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:115%;tab-stops:28.8pt center 234.0pt;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;Before me is a
Petition filed by the Registrar of Companies filed on 21st February,
2020 for the official winding up of Keynesbury Limited which was licensed by
the Securities and Exchange Commission to operate as a Fund Management Company.
The Petition was brought pursuant to the Bodies Corporate (Official Liquidations)
Act, 1963 (Act 180) and duly served on the Respondent Company by a
publication in the Thursday, May 14th, 2020 edition of the Ghanaian
Times Newspaper, specifically at page 15 and on the front wall of the
Respondent’s last known place of business. (see affidavit proving due service
filed on 29th May,2020 and affidavit of posting filed on 12th
May, 2020). In this ruling, the parties would be described as the Petitioner
and Respondent respectively. <o:p></o:p>It is important
to note that, Act 180 was repealed by the Corporate Insolvency and
Restructuring Act, 2020 (Act 1015) which was gazetted on 30th
April, 2020. However, upon reading the &nbsp;&nbsp;savings section, i.e. section 170(2), I am
confident that the present petition commenced under the old law can be
continued. Section 170 (2) reads:<o:p></o:p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>I also observe &nbsp;that irrespective of service of the petition,
affidavit in support and numerous hearing notices on the Respondent through its
registered postal address (P.O. Box CT 7322, Cantonments, Accra; publication in
the newspaper as well as&nbsp; postings on the
walls of its last known place of business, no process was filed on its behalf
to cha</main>