Court throws out NAM’s Menzgold suit against BoG and SEC
An Accra High Court has thrown out a case filed against Bank of Ghana and Security Exchange Commission by MenzGold Ghana Limited.
The Embattled Gold Trading firm sued these two state institutions for indulging in activities that were “harmful” to its operations.
This was events after BoG and SEC cautioned the public on dealing with MenzGold.
Presiding judges on the case, Mrs Justice Akua Amoah, threw out the suit following a preliminary legal objection raised by SEC and BoG.
According to SEC and BoG, the company failed to exhaust all the regulatory mechanism for redress before going to court.
The court held the argument by these state regulators as solid enough to dismiss the law suit.
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