The first creditors meeting between the official liquidator and distressed customers of embattled customers of DKM micro finance company at the Sunyani Coronation Park today came to an abrupt end after the liquidator was issued with an injunction order at the tail end of the meeting.
The meeting, one of the three meetings scheduled to be organised between the liquidator and creditors in the Brong Ahafo region,Upper West region and East East region this week is in accordance with section 23 and 42 of the bodies corporate (official liquidator), Act 1963 (Act 180) to discuss the schedule of payment in relation to when and how much and how many people will be paid.
But lawyer Twene Robert, lawyer for one of the creditors had apparently gone to the Sunyani High Court to serve notice to Official Liquidator to pay customers their amounts plus interests and the court after careful consideration granted the request and placed an injunction on the first creditors meeting.
According to the Registrar General, Jemima Oware, the injunction order will not affect the liquidation process and urged creditors to remain calm as three three local banks (GCB, ADB and Fidelity) have so far been contacted to facilitate the payments in the first week of October.
“The injunction will not affect the liquidation process because it is going to be moved in just two days’ time. The notice also came at a time we were even done with the meeting,”
DKM micro finance with its headquarters in Sunyani as at May 11, 2015 had a net liability of negative 21 million cedis a situation that forced the Bank of Ghana to place a 90-day moratorium on their operations in accordance with the provisions of the Banking Act 2004 (Act 673) as amended.
The Regulatory Body commissioned an audit into their operations to determine the assets to liabilities ratio of the company.