Basic Information of Saturday, 28 December 2019
Near to 200 consumers of Menzgold Ghana Constrained have gained their locked-up resources.
In accordance to the administration of the collapsed gold dealership business, these consumers are the to start with batch to have been compensated.
The company which has been battling to make payment after it was shut down in 2018 promised to start off payment to prospects from currently [December 27, 2019] in spite of stiff opposition by some of the disgruntled purchasers.
In an interview with Citi Information, nonetheless, Communications Director of Menzgold Ghana, Nii Armah Amarteifio expressed the company’s dedication to settle all outstanding money owed.
“I can verify to you that by the Grace of God these days we commenced payment and we were ready to shell out two hundred individuals these days. I will not give you a vary but I can inform you for a actuality that as we promised our consumers that we will commence payment on the 27th December that is nowadays, we have been capable to do that and by the Grace of God we have been ready to pay back about two hundred people right now, who fall in the zero group as we indicated in our push statement.”
“You will be called first a get in touch with will be placed to you and you will be requested to verify your lender account selection if that is finished, the cash is transferred into your account that is performed by the 3rd social gathering. The most significant point is that we are building payments to prospects and these days we ended up equipped to make payments to about two hundred customers”, he additional.
The embattled gold dealership organization had declared before that it will from Friday, December 27, 2019, get started paying customers their locked up money which have been in arrears for the previous three a long time.
The business considering the fact that its collapse in 2018 adhering to a suspension get from the Securities and Trade Fee (SEC) has been having difficulties to refund monies invested by the consumers.
A assertion issued past 7 days had the organization detailing what it termed as a ‘reverse mechanism’ as the payment strategy and components to be used for the monies to be disbursed.
“Payments shall be designed strictly pursuing a ‘reverse mechanism’ which implies from the last working day (thirty day period) of our small business operations to the incredibly day when our enterprise commenced. Consequently from 12th September 2019 to 18th March 2013. To this close, we shall start to settle all transactions in September 2019 and all those who didn’t entry added values as we commence in the 1st above described mode and manner.”
Administration also assured that it is in the approach of retrieving money owed owed the corporation to shore up funds in other to spend its consumers.
Shoppers can’t be paid
Nevertheless, attorneys for Menzgold Ghana Confined have reported they do not have the “capacity” to pay back customers’ locked up cash.
Menzgold in its statement dated 18th December 2019 experienced instructed its legal professionals to make payments to consumers.
“Claims shall be settled in total and shall be topic to an invitation from our lawful team: Kwame Akuffo & Co. Limitless strictly pursuing scheduled purchase,” the statement said.
The attorneys, even so, explained it will be unable to carry out this sort of an instruction.
“We have educated the client that the company does not have the “capacity” to carry out the reported exercise. The business is as a result not able to settle for guidance in that regard. Below the circumstances, we have advised the customer to instruct a third social gathering entity to have out the guidelines in respect of the over-described,” a assertion from the attorneys explained.
The prospects of the defunct agency vowed to kick towards any payment approach that fails to assure a 100% retrieval of their locked up investments.
A spokesperson for the prospects, Fredrick Forson indicated that they will only rescind their decision if a meeting is scheduled involving the management of the company and the buyers.