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August 5, 2020
POLITICS

Receiver for collapsed Savings and Loans firms set for auction on February 3

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The Receiver of the 347 Microfinance companies and 23 Savings and Loans and Finance houses, that were declared insolvent last year will begin auctioning the first batch of vehicles and motorcycles recovered from firms under the Receivership on February 3.

In a release issued to the press, the spokesperson for the Receivership indicated that: “a key component of the Receiver’s mandate is to secure all assets of the dissolved companies and maximize their realizations for the benefit of creditors ”

The auction will be held at the College of Physicians & Surgeons, Ridge Roundabout, Examination Hall 1, from 9 am.

Vehicle’s listed to be auctioned included Saloon Cars, SUVs, Pickups and Motor Bikes.

 

Find below the full statement

AUCTION SALES OF FIRST BACTH OF USED VEHICLES AND MOTORBIKES OF THE 347 MICROFINANCE COMPANIES AND THE 23 SAVINGS & LOANS AND FINANCE HOUSE COMPANIES (ALL IN RECEIVERSHIP)

As you may be aware, pursuant to Section 123 (1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), Bank of Ghana (“BoG”) 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.

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 there will be a Public Auction of the first batch of used Motor Vehicles and Motor Bikes of these resolved companies. Details of the Public Auction are as follows:

Duration for Inspection of Items on Sale: Wednesday, 29 January 2020 – Friday, 31 January 2020

Auction Duration: Monday, 3 February 2020 – Friday, 7 February 2020

Venue: College of Physicians & Surgeons, Examination Hall 1, Ridge Roundabout

Time: 9:00am Daily

Conditions and Payment Modalities:  

  • Strictly Cash down at the fall of the gavel or vehicle will be re-auctioned.
  • “As is where is”
  • Highest bidder shall be the purchaser

Vehicle Types:  Salon, SUVs, Pick-ups, Motor Bikes

Vehicle Brands:  Toyota, Hyundai, KIA, Ford and others.

Auctioneers:   Wildos Mart (0244381303, 0208112627)

Broadway Mart (0246004242, 0208166306)

Yakamarta Mart (0208183500, 0243668984)

Receiver’s Representative: Joseph Okyere, Tel: 024 469 2962 and Jerry Arhin Tel:020 202 4404

Kindly contact the Auctioneers if you require any further information on the Auction.

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