The Receiver has announced the sale of landed properties, chattels and used vehicles of the 347 Microfinance companies and 23 Savings & Loans and Finance House companies under receivership.
The announcement which was contained in a press release stressed that “A key component of the Receiver’s mandate is to secure all assets of the resolved companies and maximise their realisations for the benefit of creditors.”
Accordingly, the Receiver wishes to inform the general public that he is requesting for firm bids from potential buyers to acquire some Landed Properties and Motor Vehicles of the resolved companies for his evaluation,” the release signed by Eric Nana Nipah stated.
In line with restrictions imposed by the State to curb the spread of the Covid-19, the Receiver directed all interested bidders to visit www.ghreceiverships.com to view pictures of the said Properties.
The press release further stated that all interested bidders are to submit their bids in a signed and dated formal letter, scanned and attached in an email addressed to vehicletender.receivership@gmail.com , clearly indicating the item(s) of asset(s) they are interested in and the bid amount for each asset. The press release also clarified the modalities of this exercise and urged interested bidders to do so before the 31st July deadline.
Conditions and Payment Modalities:
- Highest bidder shall be the purchaser
- Winners will be notified and will have 48 hours to make payment or lose the opportunity.
- “As is where is”
Background
Pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), Bank of Ghana on 31 May 2019 and 16 August 2019 revoked the operating licenses of 347 insolvent Microfinance Companies and 23 Savings and Loans and Finance House Companies respectively.
BoG in accordance with Section 123(2) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) appointed Eric Nana Nipah, a Director of PricewaterhouseCoopers Ghana Limited (PwC), as the Receiver for the purposes of winding down the affairs of these institutions.