Six people, suing for themselves and 764 others, originally instituted an action in the High Court. All the plaintiffs were pensioners of the Ghana Commercial Bank Limited.
Their initial claims were for the following reliefs;
“ 1. A declaration that the plaintiffs are entitled to be paid their pension rights in accordance with the defendant’s Board of Directors Amendment decision of 27th February 1987.
2. Arrears of pension due plaintiffs with interest at current bank rate with effect from 1st July 1989.
3. Damages for breach of contract
4. An order of perpetual injunction restraining defendant bank from transferring any of its assets or changing its legal identity or ownership of itself by way of sale, assignment or divestiture in any form until plaintiffs’ entitlements would have been paid and concrete of Directors Amendment decision of 27th February 1987. Arrears of pension to the plaintiffs as from 1st July 1989. The rate of interest to be subject to agreement.”.