THE REGISTRAR OF COMPANIES vs. STANDARD SECURITIES LIMITED [2020]DLHC9987

Date	2020-07-23
Suit No.	SUIT NO.: CM/WBC/0251/2020
Citation No.	[2020]DLHC9987

HER LADYSHIP JUSTICE ANGELINA MENSAH-HOMIAH (MRS.)

GLORIA COFIE WITH SHIRLEY OTU FOR THE PETITIONER.

[2020]DLHC9987
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													<main id="main" class="content" style="min-height: 60rem" ><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">IN THE MATTER OF STANDARD
SECURITIES LIMTED<o:p></o:p><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">&nbsp;<span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">AND<o:p></o:p><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">&nbsp;<span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">IN THE MATTER OF THE
BODIES CORPORATE (OFFICIAL LIQUIDATIONS) ACT, 1963 (ACT 180)<o:p></o:p><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">&nbsp;<span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">AND<o:p></o:p><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">&nbsp;<span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">IN THE MATTER OF A
PETITION BY THE REGISTRAR OF COMPANIES PRAYING FOR AN ORDER FOR THE OFFICIAL
WINDING UP O STANDARD SECURITIES LIMITED<o:p></o:p><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">&nbsp;<span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">&nbsp;<span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">THE REGISTRAR OF
COMPANIES<o:p></o:p><span style="font-size:10.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:&quot;Times New Roman&quot;">(PETITIONER/APPLICANT)<o:p></o:p>vs.<o:p></o:p><span style="font-size:12.0pt;font-family:
&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:
minor-fareast;mso-bidi-font-family:&quot;Times New Roman&quot;;color:#00B0F0">STANDARD
SECURITIES 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;">

SUIT NO.: CM/WBC/0251/2020&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; DATE:
23RD JULY, 2020<o:p></o:p>

</div>COUNSEL:<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">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="MsoNoSpacing" align="center" style="text-align:center;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</main>