Realising Security Interest Without A Court Order In Ghana

Securing a credit transaction and the ease of recovery when it becomes due has always been one of the challenges confronting businesses in Ghana. To ease the challenge, collateral registry was set up in Ghana under the Borrowers and Lenders Act, 2020 (Act 1052) to address this challenge.

Before the enactment of Act 1052, the only available remedy for a Lender to realize a security interest was to issue a writ or court proceedings for an order of the court to dispose the security. However, with the advent of Act 1052, a Lender can realize a security interest without going to court.

Below is the step by step procedure to realize a security interest without a court order.

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