license revocation

The Supreme Court of Ghana has affirmed that the Bank of Ghana (BoG) acted within its legal rights when it revoked the operating licence of UniCredit Ghana Limited. The highest court’s unanimous decision reverses an earlier judgment by the Court of Appeal, thus upholding the High Court’s initial ruling. The Supreme Court panel consisting of Chief Justice Gertrude Araba Esaaba Sackey Torkornoo; Justice Mariama Owusu; Justice Prof. Henrietta Joy Abena Nyarko Mensa-Bonsu; Justice Ernest Yao Gaewu; and Justice Yaw Darko Asare ruled that the BoG did not err in its decision to declare UniCredit insolvent and subsequently revoke its licence. Initial High…