AFARE APEADU DONKOR
V.
ECOBANK GHANA LTD & ANOR

(2020) JELR 112239 (CA)

Court of Appeal 22 Dec 2020 Ghana
BriefBot icon

BriefBot Summary

Free

- The case involves a dispute over the ownership and sale of shares in Cal Bank. - Daniel Ofori sold his shares to William Oppong Bio, but the Bank of Ghana intervened and suspended the transaction. - Daniel Ofori sued Ecobank Ghana Ltd and

Case Details

Suit Number:H1/179/2019
Judges:Henry Kwofie, JA B. Mensah, JA Eric K. Baffour, JA
Counsel:Defendants/Appellants Represented by Kweku Otoo Wilson, Legal Officer at Ecobank Plaintiff/Respondent Present Nana Akosua Korankye Ankrah with Darkoa Akrofi-Amanor for Defendants/Appellants Present Nana Agyei Baffour Awuah with Bernice Ama Mortey and Safoa Nyarko Opoku for Plaintiff/Respondent Present
Location:Accra

JUDGMENT

Baffour J.A:

INTRODUCTION

The personal decision of one Daniel Ofori to sell his shares at Cal Bank in 2008 to William Oppong Bio and the odour of suspicion smelled by the Bank of Ghana leading to its intervention to halt the transaction pending the Central Bank’s own investigations, led in its trail a decision by some of the actors to resile from the transaction. The effect has been a series of law suits. One of such suits was commenced by Daniel Ofori against Ecobank Ghana Ltd and Another, where he contended that at the time Bank of Ghana suspended the transaction, the transaction had settled and was entitled to his money. Despite the success of Daniel Ofori at the High Court and the Court of Appeal, the Supreme Court in Suit No J4/11/2016 dated 25th July, 2016 has concluded that the share transfer agreement had settled and Oppong Bio had become the owner of the shares. Also in a related action, the Plaintiff/Respondent herein (referred to as “the Respondent” hereinafter) comme…

There's more. Sign in to continue reading.

judy.legal is the comprehensive database of case law and legislation from Ghana, Kenya and Nigeria. Gain seamless access to over 20,000 cases, recent judgments, statutes, and rules of court.