Insolvency Act,2006 (ACT 708)
Section 10(1)
A petition may be presented by a debtor in respect of the affairs of that debtor if the debtor is insolvent and the indebtedness in liquidated sums of money payable immediately amounts to at least one hundred million cedis.
(2) Where an indebtedness referred to in subsection (1) is to a secured creditor then, unless the total of the unsecured debts amounts to at least fifty million cedis in liquidated sums of money payable immediately, the debtor shall specify in the petition the value and description of the security.
(3) For the purpose of applying the one hundred million cedis limit under subsection (I), the amount of the secured debt shall be reduced by the value of the security as specified.
Procedure to Follow
Not Avaiable
Responsible Institution
- Email: info@rgd.gov.gh
- Website: https://www.rgd.gov.gh
- GPS: GA-143-4647
- Telephone: +233 302 664 691-93
Relevant Forms to Download
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Online System
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Fees/ charges
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