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General News of Thursday, 19 December 2013

Source: citifmonline.com

Court must explain dismissal of Awuni's suit - Imani Ghana

Think tank, IMANI Ghana says it is important for the general public to know the Commercial Court's explanation for dismissing the suit challenging the sale of SSNIT’s 90 percent stake in Merchant Bank to Fortiz.

The Court threw out the case brought by Mr. Andrew Awuni challenging the sale of Merchant Bank to private equity firm, Fortiz.

According to the court, Mr. Awuni does not have the locus to to challenge Fortiz.

But speaking to Citi News, Executive Secretary of IMANI Ghana, Franklin Cudjoe said ''if the judgement doesn't say who therefore has locus then there will be serious gaps in our laws indeed.''

''...irrespective of how they go, there are dark clouds that will be hanging around the necks of the people who will manage this bank [Merchant],'' he added.

Mr. Cudjoe said also that despite the ruling, his outfit and other interested parties will continue to take on an advocacy role to ensure transparency.

''Be as it may, I think these are matters that can still be commented upon and an advocacy to let people understand that issues of transparency do matter to everybody who wants to hold himself or herself as an interested party of a publicly owned entity.''

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