Organised Labour intends heading for the Courts to thwart the sale of Merchant Bank to Fortiz Private Equity Fund.
The decision was taken on Tuesday after a boardroom meeting by the Trades Union Congress (TUC).
A letter to that effect, signed by TUC Secretary General Kofi Asamoah, on behalf of Organised Labour said the group was not satisfied with the �unacceptable� answers it got from both the Social Security and National Insurance Trust (SSNIT) � former majority shareholders of the Bank - and the Bank of Ghana, over its earlier request for a suspension of the deal.
Organised Labour said it found it disconcerting, SSNIT and BoG�s stance that they cannot engage the TUC on the matter until the court finished hearing the case.
A TUC-led court action will be the second such move against the transaction.
Anti-graft Campaigner Andy Awuni was the first to head for the courts with the matter but his case was thrown out for want of locus.
An attempt by 80 Minority MPs to get the Speaker of Parliament to have the matter debated in the House fell through.
The TUC says it wants to ensure transparency and accountability in the transaction, thus its resolve to head for Court.
Fortiz Private Equity Fund currently owns 90% of Merchant Bank.
Source: Radioxyzonline.com
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