THE REPUBLIC VRS BANK OF GHANA (J4/62/2023) [2024] GHASC 41 (26 June 2024)

THE REPUBLIC VRS BANK OF GHANA (J4/62/2023) [2024] GHASC 41 (26 June 2024)

The Supreme Court held that Bank of Ghana lawfully revoked Unicredit Ghana Limited's license under section 123 of Act 930 due to insolvency, and was not required to follow the procedures in section 16(3). Extensive communications between Bank of Ghana and Unicredit constituted adequate notice and opportunity to be heard, satisfying the audi alteram partem rule. The revocation was neither arbitrary nor capricious, and the high court's jurisdiction was properly invoked. The Court of Appeal erred by exceeding its remit and misconstruing Act 930. The appeal succeeded, the Court of Appeal's judgment was reversed, and the high court's judgment was restored, except for the injunction and...

Citation
THE REPUBLIC VRS BANK OF GHANA (J4/62/2023) [2024] GHASC 41 (26 June 2024)
Parties
Respondent/respondent/appellant: Bank of Ghana; Applicant/appellant/respondent: Hoda Holdings Limited
Court
ghasc
Jurisdiction
Ghana
Judgment Date
26 June 2024
Procedural Posture
Civil Appeal / Final Appellate Judgment (supreme Court)
Outcome
appeal allowed; judgment of Court of Appeal reversed; high court judgment restored (except for injunction and arbitration direction)
Legal Topics
Judicial Review, Administrative Justice, Natural Justice, Revocation of Banking License, Procedural Impropriety
Source Language
eng
Constitutional Law Administrative Law Banking Law Judicial Review Administrative Justice Natural Justice Revocation of Banking License Procedural Impropriety

Case Brief

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Parties

Bank of Ghana

Respondent/respondent/appellant

Hoda Holdings Limited

Applicant/appellant/respondent

Procedural Posture

Civil Appeal / Final Appellate Judgment (supreme Court)

Legal Issues

  1. 1 Whether Bank of Ghana was required to follow the procedures in section 16(3) of Act 930 before revoking Unicredit Ghana Limited's license under section 123
  2. 2 Whether the revocation breached the audi alteram partem rule of natural justice
  3. 3 Whether the decision was arbitrary, capricious, or unreasonable

Ratio Decidendi

The Supreme Court held that Bank of Ghana lawfully revoked Unicredit Ghana Limited's license under section 123 of Act 930 due to insolvency, and was not required to follow the procedures in section 16(3). Extensive communications between Bank of Ghana and Unicredit constituted adequate notice and opportunity to be heard, satisfying the audi alteram partem rule. The revocation was neither arbitrary nor capricious, and the high court's jurisdiction was properly invoked. The Court of Appeal erred by exceeding its remit and misconstruing Act 930. The appeal succeeded, the Court of Appeal's judgment was reversed, and the high court's judgment was restored, except for the injunction and...

Court Disposition

appeal allowed; judgment of Court of Appeal reversed; high court judgment restored (except for injunction and arbitration direction)

Orders

  • Application for certiorari dismissed
  • Application for injunction refused