The
This was announced in a statement by the Receiver, Eric Nana Nipah, who doubles as a Director of
According to him, "this is to alleviate the economic impact of the resolution exercise on former employees of the affected companies particularly as the economic impact of the COVID-19 pandemic is having a toll on individuals and businesses."
The Receiver also stated that consultations with authorised representatives of the former employees to agree on processes of payment will begin effective Monday
He further noted that he would only fully settle outstanding salaries and exit packages of former employees which have been duly validated, agreed and in the resolution process.
"To ameliorate the economic impact of the resolution exercise on former employees of these affected companies particularly in these times of COVID,
It said "The Receiver will in the week commencing
"In line with the hierarchy of creditor claims set out under Act 930, other creditors of the failed institutions will be settled by the Receiver upon validation of their claims and to the extent that the Receiver is able to realise value from the remaining assets of these institutions," he said.
It would be recalled that following the revocation of the licences of the 347 microfinance companies and 23 savings and loans companies, a validation of the affected customers commenced on
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