SSNIT hopeful court will strike out HFC Bank’s case

Business News of Wednesday, 4 February 2015


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The Social Security and National Insurance Trust (SSNIT) is hopeful the substantive application brought by a shareholder of HFC Bank to an Accra High court will be heard on Wednesday following an adjournment of the case on Monday.

SSNIT intends to have the case struck out to allow an HFC Bank Extraordinary General Meeting to come off.

In an interview with Citi Business News, the Head of Legal at SSNIT, Baffour Akoto said he is optimistic the ruling will go in SSNIT’s favor on Wednesday.

“We hope the substantive application will be heard; because we on the other hand are anxious that the merits of the case will be decided so we know the eventual outcome,’’ he said.

SSNIT has already filed an affidavit in opposition to the case. This is after the court earlier dismissed an application by two shareholders of HFC Bank seeking to stop the EGM.

The Counsel for SSNIT further added that the process so far has been preliminary “but we hope the plaintiffs will have their day in court tomorrow and we will also be able to attack the application and have it struck out.’’