The Agricultural Development Bank (ADB) and five other banks—Cal Bank, Bank of Africa, GCB, Universal Merchant Bank, and United Bank of Africa—have been given a court order to stop PBC Limited’s assets from being sold or transferred.
This includes the corporate office, which is situated in Accra at 106 Olusegun Obasanjo Way, Dzorwulu Junction.
The court’s ruling follows a judgment that the six banks were able to obtain against PBC Limited. PBC Limited is accused of not fulfilling its financial commitments to the banks, even after a favorable ruling was rendered in October 2023.
Chief Justice Gertrude Torkonoo authorized the attachment order, which is prominently displayed on the walls of the PBC headquarters, and forbids any acquisition of an interest in the specified property.
Chief Justice Gertrude Torkonoo’s court order highlights the seriousness of the situation by highlighting PBC Limited’s alleged non-compliance with its debt obligations.
There has been no communication with PBC Limited, so it is unknown how the company will react to the court order.
