The Agricultural Development Bank (ADB), alongside five other Banks, has secured a court order to prevent any sale or transfer of assets of PBC Limited including its headquarters at Number 106 Olusegun Obasanjo Way, Dzorwulu Junction in Accra.
This follows a judgment attained by the six banks against PBC Limited.
The other five banks involved are Cal Bank, Bank of Africa, GCB, Universal Merchant Bank, and United Bank of Africa.
The attachment order under the hand of the Chief Justice, Gertrude Torkonoo was secured following the failure of PBC Limited to honour its debt obligations to the six banks even after a judgment had been delivered in the favour of the banks.
The attachment posted on the walls of the PBC headquarters cited by Citi News prohibits anybody from acquiring any interest whatsoever in the said property.
The court order, issued by the Chief Justice, Her Ladyship Justice Gertrude Torkonoo, highlights the gravity of the situation and is a response to PBC Limited’s alleged failure to fulfil its debt obligations to the plaintiffs.
This legal action represents a proactive step by the plaintiffs to protect their interests and seek compensation for financial non-compliance.
As the legal dispute progresses, the Cocoa Buying Company is now subject to restrictions on its property transactions, adding a layer of complexity to its financial situation.
The court’s intervention is intended to ensure that the plaintiffs can obtain the judgment credit that PBC Limited owes them.
Meanwhile, attempts to reach PBC have been unsuccessful.
Explore the world of impactful news with CitiNewsroom on WhatsApp!
Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU: https://whatsapp.com/channel/0029VaCYzPRAYlUPudDDe53x
No spams, just the stories that truly matter! 
#StayInformed #CitiNewsroom #CNRDigital
The post ADB, 5 others secure order to sell PBC Ltd assets including its head office appeared first on Citinewsroom - Comprehensive News in Ghana.
Read Full Story
Facebook
Twitter
Pinterest
Instagram
Google+
YouTube
LinkedIn
RSS