Mr. Eric Nipah, the Receiver for 347 microfinance companies and 23 Savings and loans companies, disclosed that there has been an extension of deadline for the submission of bids to purchase the assets of the resolved companies.
The Director of Pricewaterhouse Coopers Ghana Limited (“PwC”), in a statement sighted by the Vaultz News indicated that the initial deadline which was Monday, 27 July 2020, has been extended to Friday, August 14, 2020.
According to him, “a key component of the Receiver’s mandate is to secure all assets of the resolved companies and maximize their realizations for the benefit of creditors“.
“Accordingly, in my press statement of 9 July 2020, I informed the general public of my intention to commence the second round of the sale of the assets of the resolved companies and requested prospective buyers to submit bids for evaluation on or before 27 July 2020”.
Eric Nipah
“In response to the numerous requests for an extension of the deadline to enable prospective bidders appropriately respond to bidding requirements, I wish to inform the general public that I have extended the deadline for the submission of bids to purchase the assets of the resolved companies by a further two weeks from the initial deadline of 27 July 2020 to close of business on Friday, 14 August 2020”.
The Receiver further urged interested bidders to visit the official website to view pictures of the assets and view other details of assets on offer.
“All prospective buyers who wish to acquire any of the assets (i.e. landed properties, motor vehicles and chattels) of the resolved companies should submit their bids on or before close of business on Friday, 14 August 2020”.
“Please note that the pictures are grouped according to the current location of the assets, i.e. Kumasi, Takoradi and Accra”.
That notwithstanding, “prospective buyers should submit their bids in a signed and dated formal letter, scanned and attached in an email addressed to any of the following email addresses, clearly indicating the item(s) of asset(s) they are interested in and the bid amount for each asset: [email protected] or [email protected]”.
“Please note that all bids which fall short of the above requirement will be rejected. All bids are to be submitted on or before close of business on Friday, 14 August 2020”, the statement read.
Payment of claims to ex-staff of defunct companies
Meanwhile, the receiver of the defunct microfinance and savings and loans companies is set to begin payment of claims of ex-staff of these institutions.
A statement from the receiver, Eric Nana Nipah of Pricewaterhouse Coopers said tracing the assets of the defunct companies have been difficult due to asset diversion among others.
“The consequence in pursuing this recovery route is that creditor claims including employee related claims in the resolution of the affected MFCs and S&Ls are not likely to be settled any time soon”.
However, “the Bank of Ghana has agreed to pre-finance full settlement of employee related claims which otherwise rank as unsecured claims in the receivership of these companies,” the receiver said.
