UT, Capital loan defaulters have been given 3-month ultimatum to clear debts

Logos of Capital and UT banks
  • The joint receivers of defunct UT and Capital banks published a list of 91 debtors.
  • The loan defaulters have till end of March this year to pay the loans.
  • Fifty-eight companies and individuals on the list owe UT bank, while the remaining thirty-three (33) owe Capital bank.

Debtors of defunct UT and Capital banks have till the end of March 2019 to pay the loans they owe the 2 banks.

A newspaper publication listed ninety-one (91) companies and individuals who owe the two banks.

Out of the ninety-one companies and individuals, fifty-eight (58) owe UT bank. Meanwhile, the remaining thirty-three (33) owe Capital bank.

Some renowned companies and individuals indebted to UT Bank are Beige Group limited, Beige Village limited, CTK City Link limited and CTK Network Aviation limited.

Others are Dihoc footwear division limited, Imperial homes limited, Morgan energy limited, Saltpond Offshore Producing Company as well as Sparrow Production limited.

Debtors of Capital bank include; BOP Investments Limited, Express Savings and Loans company limited, FirstBanc limited, Gold Coast refinery.

Others are Liberty Asset management limited and Liberty commodities limited.

The development comes at a time where some recoveries have been made which is being used to pay off exit pay of former workers.

Meanwhile, the Joint Receivers say the notice of loan default is without prejudice to any legal action that the Joint Receivers may institute or may have instituted for the recovery of all amounts owed and due the banks.

The licences of UT and Capital banks were revoked in August 2017. In about one and a half years after the revocation of the licenses, the Joint Receivers have recovered some GH¢400,000,000 from the assets of the two banks.

The amount recovered was to be used to offset debt due the Bank of Ghana. However, the BoG has given its entitlement up to be used to pay severance packages for the former workers of the two banks.

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