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General News of Monday, 15 October 2018

Source: Myjoyonline.com

Woyome case: Supreme Court orders UT Bank receiver into witness box

The Supreme Court has ordered the Receiver of defunct U.T Bank, Eric Nana Nipah, to mount the witness box to be cross-examined by the Attorney General.

This follows the Receiver's claim of ownership of some properties belonging to businessman Alfred Woyome which the state intends to sell to satisfy a GH?51.2 million debt Mr Woyome owes the state.

The Attorney General, Gloria Akuffo, had earlier accused Mr Nipah, one of the Directors of audit firm, Price Waterhouse Coopers (PwC), and businessman Alfred Woyome of colluding to prevent the state from selling his properties to satisfy the debt Mr Woyome owes the state.

The Attorney General maintains that the businessman used the said properties as collateral to secure a loan in excess of GH?9million from the bank months after the bank claimed to have bought the properties.

The three properties in dispute are residential facilities located at Trassaco Valley estates and Accra New town.

Nana Nipah claims the bank acquired them on April 5, 2013, and May 13, 2014.

Justice Benin who is hearing the case gave the order for the cross-examination after he was informed by Mr Nipah's lawyers that he (Mr Nipah) was out of the country and was not aware he was to testify on Monday.

Justice Benin fixed the cross-examination for Monday, October 22.

Deputy Attorney General, Godfred Yeboah Dame, told Joy News that the state is making a headway in retrieving the money Mr Woyome owes the state since each of the properties is worth about $1.5 million (a little over GH? million).

He argues that the state will show that indeed the two properties belong to the businessman by the end of the cross-examination.