By Beatrice Oppon
Chief Justice Gertrude Sackey Torkornoo has launched the Small Claims and Debt Recovery Courts in the Greater Accra and Ashanti Regions to speedily adjudicate close to 55,000 debt claims of microfinance company Bills.
Speaking at the launch of the Courts in Accra, the Chief Justice said the significant increase in the caseload of small claims for the recovery of debts necessitated the establishment of the courts.
She noted that although the establishment of the Small Claims and Debt Recovery Courts was provoked by the huge claims filed by Bills Micro-Credit, the courts are opened to all financial institutions to recover debts so that the time value of liquidated claims are not eroded by delays at the courts.
Chief Justice Gertrude Sackey Torkornoo said the Small Claims and Debt Recovery Courts will initially operate on a pilot basis, with eight in the Greater Accra Region and four in Ashanti Region. She said the courts will sit every working day in the afternoon from 2pm to 8pm and on Saturdays from 8:30am to 4pm.
Chief Justice Torkornoo noted that the provision of Saturday courts has been operational for several years now and serves primarily the needs of national agencies like SSNIT that need to recover monies from the public and businesses. She therefore encouraged microfinance companies that require support for increased services to inform the Office of the Judicial Secretary to enable these extra hour courts to effectively serve the needs of the country.
Board Chairman of Bills Micro-Credit, Richard Quaye, said the company loans out about two billion cedis annually to the public, which is often locked up in debt. Such an initiative will therefore help to recover the debts expeditiously and boost investor confidence.
MCE for La-Dadekotopo Solomon Kotei Neequaye bemoaned debt recovery, which remains a challenge and often pushes companies out of business. He said the Assembly will leverage on the establishment of the courts to improve on its debt recovery such as property rate obligation.
