ADB, 5 others secure order to sell PBC Ltd’s assets including its head office

The Agricultural Development Bank (ADB) and five other banks have secured a court order to prevent any sale or transfer of assets of PBC Limited, including its headquarters at Number 106 Olusegun Obasanjo Way, Dzorwulu Junction in Accra.

This follows a judgment secured by the six banks against PBC Limited.

The other five banks include Cal Bank, Bank of Africa, GCB, Universal Merchant Bank, and United Bank of Africa.

The attachment order under the hand of the Chief Justice, Gertrude Torkonoo was secured following the failure of PBC Limited to honour its debt obligations to the six banks even after a judgment had been delivered in the favour of the banks in October 2023.

The attachment posted on the walls of the PBC headquarters sighted by Citi News prohibits anybody from acquiring any interest whatsoever in the said property.

The court order, issued by the Chief Justice, Her Ladyship Justice Gertrude Torkonoo, highlights the gravity of the situation and is a response to PBC Limited’s alleged failure to fulfil its debt obligations to the plaintiffs.

Meanwhile, attempts to reach PBC have been unsuccessful.