Deputy AG runs from his position on revocation of UniBank license

A Deputy Attorney-General and Minister for Justice, Godfred Dame, has fled from his own preliminary written objection to the Finance Minister on the revocation of the license of uniBank. The change in position, shows government trying to whitewash a wrong that had been done in the Banking Sector clean up.

It emerged that, the Attorney-General’s Department in its preliminary observations upon a request for comments on the matter, advised against the revocation of the bank’s license, suggesting that it will be illegal to do so, but the Attorney-General’s position was, however, not adhered to by the Finance Minister.

But, Godfred Dame in what appears to be lack of principles during an interview with Citi News, said although the Attorney-General’s official position on the matter was different, indicating that there was nothing wrong with revoking the defunct bank’s license.

Mr Dame on Friday, said the initial letter to the Finance Minister on the subject was only a first step in the process and his office’s official position on the case was what it argued in court.

“This letter only constituted a first opinioned step that we take in the matter. It is no different from what pertains in other cases that we handle on behalf of the Ministries, Departments and Agencies of State…I wonder how a person could ignore all the official positions taken by the AG on the matter and conclusions made by the court, as well as the arbitrator,” he said.

A letter signed by Godfred Dame indicated that the entire process leading to the appointment of KPMG as an official Receiver of uniBank was unlawful and illegal.

“It is beyond dispute that the official administration uniBank was placed under, terminated with the revocation of the license of that bank and the appointment of a Receiver for selected assets and liabilities. It seems that these actions cannot be supported in terms of section 122 (2) of Act 930. As observed above, section 122 (2) stipulates circumstances under which official administration may validly terminate at an earlier time, including a situation necessitating a revocation of the license of the bank under section 16 or liquidation of the bank in accordance with sections 123 to 139 of Act 930.”

“Thus based on the clear language of section 12 (2), any revocation of a license pursuant to a recommendation of the official administrator under section 122, may be done in accordance with section 16 of Act 930. It […]

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