The Supreme Court in a unanimous decision upheld SIC’s appeal against Ivory Finance Company Ltd regarding a credit guarantee case which has been in court over the last five years.
The Highest Court of the land made orders remitting the substantive matter of fraud to be heard on its merits by the High Court.
In November 2013 Ivory Finance sued SIC to recover guarantee bond amount of GH¢19.3 million SIC issued in favour of Ital Construct, a construction firm.
However, Ivory Finance obtained a consent judgment that SIC believed was procured fraudulently and for which SIC dismissed its then Managing Director, Doris Awo Nkani.
The Insurance giant has been seeking for the consent judgment to be set aside and its alleged case of fraud in the acquisition of a consent judgment to be heard on its merits.
Commenting after the Supreme Court orders, the Management of SIC Insurance Company noted that they had always believed in their case and remained faithful in the rule of law and in the judiciary system of Ghana.
The Management of SIC has thanked its numerous stakeholders for keeping faith through the trying times.
SIC says it is focused on delivering on its promise to serve the insuring public and to provide the needed leadership in the industry.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
‘Expired’ rice scandal: FDA is complicit; top officials must be fired – Ablakwa
13 mins -
#TheManifestoDebate: We’ll provide potable water, expand water distribution network – NDC
31 mins -
IPR Ghana@50: Pupils educated to keep the environment clean
37 mins -
PenTrust CEO named ‘Best Pensions CEO’, company wins ‘Scheme Administrator Award’ at Ghana Accountancy & Finance Awards 2024
56 mins -
Alan Kyerematen’s ‘Brighter Future for Health Professionals’ in Ghana Revealed in Bono
1 hour -
#TheManifestoDebate: NPP will ensure a safer, cleaner and greener environment – Dr Kokofu
1 hour -
2024 Election: Police to deal with individuals who will cause trouble – IGP
1 hour -
Seychelles President’s visit rekindles historical and diplomatic ties with Ghana
1 hour -
Election 2024: EC destroys defective ballot papers for Ahafo and Volta regions
2 hours -
2024 Election: I am sad EC disqualified me, but I endorse CPP’s candidate – PNP’s Nabla
2 hours -
I want to build a modern, inclusive country anchored by systems and data – Bawumia to CSOs
2 hours -
Miss Health Ghana 2024: Kujori Esther Cachana crowned new Health Ambassador
2 hours -
Playback: The manifesto debate on WASH and climate change
2 hours -
Alan Kyerematen saddened by NDC and NPP’s neglect of Krofrom Market in the Ashanti Region
2 hours -
CSIR Executive Director urges farmers to adopt technology for improved farming
3 hours