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RULING
The Applicant is the Plaintiff/Judgment Creditor in the substantive suit and seeks to enforce a Judgment entered in its favour by way of attachment of certain properties believed to be owned by the Defendant/Judgment Debtor.
The Respondent filed a Notice of Claim in respect of the properties attached.
The Bank of Ghana revoked the license of the Defendant/Judgment Debtor and placed it under Receivership pursuant to Section 123 of the Banks and Specialized Deposit-Taking Institutions Act, 2016, Act 930. In view of this development, this Court struck out the Interpleader application, ordered the Deputy Sheriff to release the property from attachment and directed the execution Creditor to present its Claims before the Receiver.
The Plaintiff/Judgment Creditor filed a notice of appeal and then filed an application for injunction before this Court.
For ease of reference, the parties to this application would be referred to as the Applicant and Respondent respectively.
By the present application, Counsel for the Applicant seeks an order of interlocutory injunction against the Respondent to restrain it, either by itself, agents, assigns, privies, etc. , from selling, disposing of, leasing or transferring houses numbered 2BC1, 2BC3, 2BC4, 2BC5, 2BC6, 2BC7, 2BC8, 2BC9, 2BC10, 2BC12, 2BC13, 1BC1, 1BC3, 1BC4, 1BC5, 4BC6, 4BC7, 4BC8, 3, 2MC 5, 2MC 6, 2MC7, 2MC8, 2MC9, 1PC9, 1PC10, 1PC21, 1PC29, 4MC1, 5MC2 and 1AC9, pending the determination of the appeal against the Ruling of this Court dated 9th October, 2019. The application is grounded on the real likelihood of the Respondent selling, disposing of or transferring those properties to Third Parties before the hearing of the appeal.
It is the Applicant’s contention that if the properties are disposed of or transferred, its interest in therein would be jeopardized.
The Respondent has not filed any affidavit in position to this application even though its preliminary legal objection was dismissed.
I have read the affidavit in support as well as the submissions filed by Counsel for the Applicant.
Indeed, Counsel for the Applicant has raised a valid legal point in his submissions, that is, by virtue of Section 132 (1) (h) of the Banks &Specialized Deposit-Taking Institutions Act, Act 930, a Receiver is not entitled to set aside attachments which existed Six (6) months before the effective date of receivership.
Again, for the first time, this Court’s attention has been drawn to the fact that the attachment of the