….Over GHS 2.55 million judgment debt

Kenpong Travel & Tours Limited, one of Ghana’s most recognisable travel and tourism companies and a major organiser of supporter travel to international football tournaments, is facing a winding-up petition at the Commercial Division of the High Court in Accra over an alleged unpaid judgment debt of GHS2.55 million.

Winding-up in company law is the legal process by which a company is brought to an end, its assets are collected and sold, its debts are paid, and any remaining funds are distributed to shareholders before the company is dissolved.

The petition, filed by First Atlantic Bank Limited under the Corporate Insolvency and Restructuring Act, 2020 (Act 1015), seeks an order for the official liquidation of the company on the grounds that it is allegedly unable to pay its debts.

The legal action places one of Ghana’s best-known travel brands under intense scrutiny at a time when it remains actively associated with large-scale travel operations, including supporter travel packages for FIFA World Cup tournaments.

According to court documents sighted by NorvanReports, First Atlantic Bank, acting through its Executive Director, Daniel Marfo, contends that Kenpong Travel & Tours has failed to satisfy a court judgment and has demonstrated an inability to meet its financial obligations.

The petition identifies First Atlantic Bank as the petitioner and Kenpong Travel & Tours Limited as the respondent. It describes the company as a travel and tour operator engaged in cross-border tourism promotion, car rental services, ticketing and reservations.

The company’s registered office is listed as Baptist Convention House, 11 Yiyiwa Road, Abelemkpe, Accra.

Court documents indicate that Kenpong Travel & Tours was incorporated on 11 October 2013 and registered with the then Registrar-General’s Department under registration number CS289792013. The company reportedly had an authorised share capital of GHS1 million and a paid-up capital of GHS60,000 at the time of incorporation.

The winding-up application stems from an earlier suit filed by First Atlantic Bank against Kenpong Travel & Tours and five other defendants.

According to the petition, judgment was entered against the respondents jointly and severally on 15 August 2022 in Suit No. CM/BFS/1191/2019, First Atlantic Bank v Kenpong Travel and Tour Limited & 5 Others.

The bank states that the amended entry of judgment was subsequently served on the parties.

The debt sought to be recovered amounts to GHS2,549,969.28, together with accrued interest and costs. The petition notes that interest continues to accrue at the prevailing commercial rate from the date the debt became due until final settlement. The judgment also awarded costs of GHS20,000 against the respondent.

First Atlantic Bank argues that Kenpong Travel & Tours is unable to satisfy the judgment debt and should therefore be placed into liquidation.

“It is important to note at the outset that a corporate autopsy of the Respondent’s financial position will show that the Respondent is a party that is unable to pay its debt,” the petition states.

The bank further contends that the company is unable to pay its debts as and when they fall due and that “it is just and equitable” for the court to order its winding up.

In its petition, First Atlantic Bank alleges that efforts to enforce the judgment have been frustrated by a series of court applications filed by the respondent.

The bank claims that since the amended judgment was served, the company has filed “numerous frivolous applications” intended to delay enforcement proceedings.

According to the petition, the litigation has progressed from the High Court to the Supreme Court on two occasions, with the respondent allegedly making nine unsuccessful attempts to secure stays of execution.

The bank further alleges that the company has used prolonged litigation to conceal its inability to satisfy the debt.

“The Respondent has, in the last four to five years, engaged in the pretentious attitude of litigation when, in truth and fact, it is merely engaged in using these Applications as a device to mask its inability to pay its debt from the world,” the petition alleges.

First Atlantic Bank also claims that the company has continued to present itself publicly as a viable business despite its alleged inability to settle the judgment debt.

The petition raises additional concerns regarding collateral allegedly used to secure the facility that resulted in the judgment debt.

According to the bank, the documentation presented as security was later found defective, and the Lands Commission allegedly could not register it as a valid mortgage.

The bank further claims that Kenpong Travel & Tours has failed to provide satisfactory collateral or a credible repayment proposal to settle the outstanding debt.

It also alleges that efforts through the company’s lawyers to identify assets capable of satisfying the judgment have produced no meaningful results.

Based on these circumstances, the bank argues that the company has demonstrated an inability to pay its debts and should therefore be placed in official liquidation.

First Atlantic Bank seeks three principal orders from the court: an order winding up Kenpong Travel & Tours Limited; an order directing the realisation of the company’s assets to satisfy the judgment debt; and an order restraining the company’s directors from interfering with, disposing of, or otherwise encumbering the company’s assets pending the determination of the petition.

The bank is also seeking costs and any further relief the court considers appropriate.

Despite the seriousness of the allegations, the filing of a winding-up petition does not in itself establish insolvency.

A winding-up petition presents a creditor’s claims and must be determined by the court after hearing both sides. Kenpong Travel & Tours reserves the right to oppose the petition, challenge the allegations, negotiate a settlement, or present evidence demonstrating its financial viability.

The case nevertheless carries significant legal and commercial implications.

A winding-up order is among the most severe remedies available under corporate law, as it goes beyond ordinary debt recovery and seeks the company’s liquidation.

Given Kenpong Travel & Tours’ prominence in the travel and tourism industry, the proceedings are likely to attract considerable interest from customers, creditors, suppliers, business partners and football supporters who rely on the company for international travel arrangements.

The matter also raises broader questions about corporate debt recovery and creditor enforcement in Ghana, particularly where publicly visible companies are involved.

For now, the central issue before the court is whether Kenpong Travel & Tours can satisfy the outstanding judgment debt or whether the circumstances justify liquidation under Ghana’s corporate insolvency regime.

The petition, dated 4 May 2026, was filed by Kwame Akufo & Co. Unlimited on behalf of First Atlantic Bank. An affidavit verifying the petition was sworn by Daniel Marfo, who stated that the facts contained in the application were true to the best of his knowledge and belief.

Attached exhibits reportedly include the company’s incorporation documents, copies of the judgment and amended entry of judgment, rulings on applications for stay of execution, documents relating to the disputed collateral, and correspondence concerning efforts to identify assets for enforcement.

The High Court is expected to determine whether the allegations warrant the commencement of formal liquidation proceedings against one of Ghana’s most prominent travel operators.

The post First Atlantic Bank seeks winding-up of Kenpong Travel & Tours appeared first on The Herald ghana.

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