{"id":237398,"date":"2016-08-08T05:30:53","date_gmt":"2016-08-08T05:30:53","guid":{"rendered":"http:\/\/citifmonline.com\/?p=237398"},"modified":"2016-08-08T05:30:53","modified_gmt":"2016-08-08T05:30:53","slug":"hfc-awaits-courts-ruling-in-finatrade-debt-saga","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/08\/hfc-awaits-courts-ruling-in-finatrade-debt-saga\/","title":{"rendered":"HFC awaits court’s ruling in Finatrade debt saga"},"content":{"rendered":"
HFC bank has told Citi Business News it will await a court ruling before it makes its next move following Finatrade’s indebtedness to it.<\/p>\n
HFC is one of many banks Finatrade is currently indebted to.<\/p>\n
[contextly_sidebar id=”LzosvsRNRiMDo6MIMBm78DKtKjTCi9C8″]Finatrade’s indebtedness to HFC and other banks in the country is reported to be in the tune of about 1 billion cedis, which is almost half of the GHc 2.6 billion stated capital of the entire banking industry.<\/p>\n
A number of the banks in a bid to recover their monies from Finatrade last year dragged the company which is one of Ghana\u2019s biggest commodity trading companies to court.<\/p>\n
Speaking to Citi Business News on the matter the Managing Director of HFC bank Robert Le Hunte said the bank will take its next line of action on the matter after the court’s ruling.<\/p>\n