Tag: Receiver
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Customers of collapsed Fund Managers accuse gov’t of neglecting them
Customers of defunct fund management companies have expressed worry about government’s seeming lack of concern in the recovery of their locked up funds. President Akufo-Addo in the State of the Nation Address last week assured customers of defunct Savings and Loans and Microfinance Companies including DKM customers, that they will be paid their funds in…
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Receiver accrues GHS2.6 million from 1st auction of seized cars
The Receiver for the collapsed microfinance and Savings Loans companies, has raked in about 2.6 million cedis from the auction sale of the first batch of confiscated vehicles owned by the defunct companies. The 5-day exercise is part of efforts to recoup monies to pay affected depositors. A variety of salon cars were put up…
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Receiver and Auctioneers urged to ensure transparency in public sale of vehicles
The Ghana Association of Savings and Loans Companies has urged authorities in charge of the ongoing auctioning of confiscated vehicles owned by defunct Microfinance institutions, Savings and Loans companies and Finance Houses, to honour their promise of ensuring transparency. The call comes after auctioneers and representatives of the Receiver of the collapsed institutions, Eric Nana…
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Receiver, auctioneers strictly enforce payment time for auctioned vehicles
Persons interested in bidding for the confiscated vehicles of the collapsed Microfinance and Savings and Loans companies, should be ready to comply with the two hour ultimatum to make payments should they win any bid. This is the indication from auctioneers and representatives of the Receiver, Eric Nana Nipah. The caution follows an experience where…
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Lawsuits delayed payments to majority of customers of collapsed S&Ls – Association
The Executive Secretary of the Ghana Association of Savings and Loans Companies (GHASALC), Tweneboa Kodua Boakye, says about 70 percent of customers of their members whose licenses were revoked have not received their locked-up funds. He attributed the delay to the legal and other challenges faced by the receiver in the process of validating about…
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Receiver auctions cars of collapsed S&Ls and microfinance firms to repay depositors
As part of efforts to expedite payments to affected customers of the collapsed microfinance and savings and loans companies, the Receiver, Eric Nana Nipah, has commenced processes to auction some used vehicles and motor bikes owned by the defunct entities. The proceeds of the auction are to add up to the amount available to pay…
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Receiver directs depositors, etc to file claims by September 12
Persons who have deposits with the collapsed Savings and Loans companies and finance houses have the next four weeks to submit their claims to the Receiver for payment of their claims. A statement issued by the Receiver, Eric Nana Nipah said that the move will, however, be subject to validation for the scheduled period. The…