Compel Ibrahim Mahama to ‘vomit’ GHS350m UT loan – Receivers pray to Court
Months after MyNewsGh.com reported on how Mr Ibrahim Mahama’s companies owed UT Bank outstanding loan repayment balance of $35.7 million and GH¢189.1 million as of the time the bank’s licence was revoked in 2017, court action has been initiated by the receiver to recover the money. The licence of the UT Bank was revoked on August 1, 2017 as at which time Mr Ibrahim Mahama owed the bank in excess of 350million Ghana cedis. The companies involved are Dzata Cement Limited, $35.7 million; MBG Limited, GH¢83.1 million; Holman Brothers Limited, GH¢86.4 million, and Engineers and Planners, GH¢19.6 million. The court document said Mr Mahama was the Executive Chairman/Director of the companies, which were all registered in Ghana. The statement of claim also averred that Mr Mahama was the majority shareholder of all the four companies. The receivers aver that there have been several meetings between Mr Mahama and representatives of the four other defendants in a bid to recover the outstandi...