Jan 10, 19
Court throws out Menzgold suit against BoG, SEC
An Accra High Court has thrown out a suit filed by troubled gold firm, Menzgold Ghana Limited against the Bank of Ghana and the Security and Exchange Commission (SEC).
The High Court presided over by Mrs Justice Akua Amoah, dismissed the suit after a preliminary legal objection raised by SEC and BoG.
According to the Central Bank and SEC, Menzgold failed to exhaust all the regulatory mechanism for redress before rushing to court.
The embattled gold dealership company, sued the Securities and Exchange Commission (SEC) and the Bank of Ghana in September, 2018 after its licence was revoked by SEC.
The company in its suit sought from the court an order directing the two institutions to stop interfering in its business.
Menzgold also asked the court to stop the Bank of Ghana and the SEC from publishing what it described as “derogatory notices” against its business.
“An order of perpetual injunction to restrain the Bank of Ghana and Securities and Exchange Commission, its officers, servants and agents from interfering with Menzgold’s business activities or further acts of disobedience and non-compliance with law by publishing any derogatory notices.”
Menzgold also wanted the two institutions to publish an unqualified retraction and apology for the notices they published against the gold dealership company.
It also asked the court to tell both institutions that it’s gold dealership business does not fall under any of their laws.
This comes after the CEO of Menzgold Nana Appiah Mensah was declared wanted on Wednesday by the Circuit Court in Court. He has been charged for defrauding under false pretense.
You can’t blame us – Deputy BoG governor tells Menzgold customers
There are no responses to this article, why not be the first?
Leave a reply
Leave a Reply
Sep 24, 18
Man jailed for lying to girlfriends and knowingly infecting them with HIV
Sep 27, 18
More clarity needed on deportation of 7000 Ghanaians from US – Apaak
Jul 15, 18
Eden Hazard move to Real Madrid ‘almost inevitable’, says World Cup Supplement panellist Andy Dunn
Dec 29, 18
I’ll support Catholic church’s position on national cathedral – Rawlings
Aug 18, 18
President, many, bid J.H. Mensah farewell
Nov 4, 18
NDC’s Aljazeera assaults party executives., disrupts ‘secret’ meeting
This is Rising!
STRATEGIC THINK TANK CALLS ON FRANKLIN CUDJOE TO DO PROPER RESEARCH OR SHUT UP ON…
NPP dares NDC over Nyantakyi
Students optimistic as KNUST reopens today
Sports Paper Talk National Regional
Ahmed’s killing: We’ll not shield anybody – Police