THE REPUBLIC vs. BANK OF GHANA EX-PARTE: HODA HOLDINGS LTD. [2022]DLCA11563

Date	2022-07-07
Suit No.	SUIT NO.: Hl/194/2021
Citation No.	[2022]DLCA11563

SUURBAAREH J.A (PRESIDING)

WOOD J.A.

BARTELS-KODWO J.A.

MR. KWESI ADU-MANTE ESQ. FOR APPLICANT/ APPELLANT

MR. FRANK DAVIS ESQ. WITH JOHN KLOTTEN-SEFA AND PATRICK KOJO ENNIN FOR RESPONDENT/RESPONDENT

[2022]DLCA11563
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													<main id="main" class="content" style="min-height: 60rem" >THE REPUBLIC<o:p></o:p>vs.<o:p></o:p>BANK OF GHANA EX-PARTE: HODA HOLDINGS LTD.<o:p></o:p>[COURT
OF APPEAL, 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;">

MR. FRANK DAVIS ESQ. WITH
JOHN KLOTTEN-SEFA AND PATRICK KOJO ENNIN FOR RESPONDENT/RESPONDENT<o:p></o:p>

</div>CORAM:
<o:p></o:p>SUURBAAREH J.A (PRESIDING), WOOD J.A., BARTELS-KODWO&nbsp; J.A.<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="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">JUDGMENT<o:p></o:p>

</div>&nbsp;BARTELS-KODWO
J.A.:<o:p></o:p>INTRODUCTION<o:p></o:p>This
is an appeal against the ruling of the High Court, Human Rights Division,
refusing a motion on notice inviting the High Court to exercise its
jurisdiction under article 141 of the 1992 Constitution and Order 55 of the
Rules of the High Court (C.I. 47) to issue an order of Certiorari to bring up
to that Court for the purpose of being quashed, the notice dated 16th August,
2019 authored by the Respondent /Respondent (hereinafter called "the
Respondent"), declaring Unicredit Ghana Limited, which was primarily owned
by the Applicant/ Appellant (hereinafter called "the Appellant")
insolvent and revoking the license of the said Unicredit Ghana to operate as a
Specialized Deposit Taking Institution (SDTI).<o:p></o:p>BACKGROUND<o:p></o:p>The
brief facts of the case are that the Respondent by a notice pursuant to its
powers under the Bank and Specialised Deposit Taking Institutions Act, 2016
(Act 930) revoked the operating license of Unicredit Ghana Limited. The
Appellant being its majority shareholder sought an application for judicial
review against the Respondent seeking the following reliefs:<o:p></o:p><span style="font-size:12.0pt;
line-height:107%;font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:&quot;Book Antiqua&quot;;
mso-bidi-font-family:&quot;Book Antiqua&quot;;mso-ansi-language:EN-US">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order for
Certiorari directed at the 1st and 2nd Respondents to bring up to this
honourable court for the purpose of being quashed the Notice dated 16th August,
2019 declaring Unicredit Ghana Limited insolvent and revoking the license of
Unicredit Ghana Limited to operate as a Specialised Deposit Taking Institution.<o:p></o:p><span style="font-size:12.0pt;
line-height:107%;font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:&quot;Book Antiqua&quot;;
mso-bidi-font-family:&quot;Book Antiqua&quot;;mso-ansi-language:EN-US">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order of
interlocutory injunction restraining the Respondents, their assigns, privies,
hirelings or otherwise however described from interfering with the operations
of Unicredit Ghana Limited and to refer the subject matter of this instant
application to Arbitration.<o:p></o:p>The
grounds for the application were that:<o:p></o:p><span style="font-size:12.0pt;line-height:107%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;
mso-ansi-language:EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
i.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Respondent refused to
give the Company, its Board of Directors and Shareholders (including the
Applicant) a hearing and notice of its intention before preparing Exhibit 0B6
is contrary to the rules of natural justice which requires that the Applicant
be given a hearing before an adverse decision is given against it.<o:p></o:p><span style="font-size:12.0pt;line-height:107%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;
mso-ansi-language:EN-US">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ii.