Officials of Ecobank Ghana at its Head Office in Accra, on Tuesday, July 21, stopped the attempted seizure of the bank’s assets by police officers and bailiffs who were there to enforce a High Court order over a debt the bank owes a private entity.
In a court order sighted by Livingavenuegh.com dated June 2, 2020, the Police was to provide assistance to bailiffs which includes Mike Agbemashior, George Tykhonov and Yury Shelkov to execute a writ in which Ecobank Ghana is commanded to make a payment of GHS4 million with an accrued interest of GHS10 million dating back to the year 2015 to Yuri M Plastics, which is the fourth defendant in the case.
According to the court, the order was as a result of a fraud committed against the plaintiffs.
It therefore indicated that the GHS4 million should be paid to the fourth defendant.
Per information gathered by Livingavenuegh.com, an official with the Yuri M Plastic products secured a loan from the Ecobank in the name of the plastic company.
Without due diligence, Ecobank approved the loan. As attempts by Ecobank to retrieve the loan proved futile, it secured a court order which permitted it to take control of the plastic company. With time, the Plastic company also sued Ecobank and demanded damages.
Dr. Daniel Kassertee however confirmed that the bank had been in court over the payments.
“Certainly, the bank has been in court with a certain individual who was not in court with the bank. He was in court with his own company and also the bank. At the end of the day, the bank was asked to pay some money to the company, not the individual. We have since done that, and the court has fixed a date in October to take a decision,” Mr. Kassertee said.
