Ofori Vrs Ecobank [2020] GHASC 11 (11 March 2020)

Ofori Vrs Ecobank [2020] GHASC 11 (11 March 2020)

The Director of Finance was not a Court Expert or Referee within the meaning of the procedural rules but was appointed to assist the parties in negotiating a settlement. Since the settlement was not accepted by both parties, it is not binding, and the Applicants are entitled to reject the report. The preliminary objection by the Respondent is dismissed, and the order appointing the Director of Finance is rescinded.

Citation
[2020] GHASC 11
Parties
Applicant: Daniel Ofori; Respondent: Ecobank Ghana Limited; Respondent: Securities and Exchange Commission; Respondent: Ghana Stock Exchange
Court
Supreme Court
Jurisdiction
Ghana
Judgment Date
11 March 2020
Procedural Posture
Civil Motion / Ruling on Challenge to Report of Director of Finance
Outcome
Preliminary objection dismissed; report of Director of Finance rejected; order appointing Director of Finance rescinded.
Legal Topics
Interest Calculation, Court Appointed Experts, Negotiated Settlements, Jurisdictional Objections
Source Language
English
Civil Procedure Banking Law Interest Calculation Court Appointed Experts Negotiated Settlements Jurisdictional Objections

Case Brief

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Parties

Daniel Ofori

Applicant

Ecobank Ghana Limited

Respondent

Securities and Exchange Commission

Respondent

Ghana Stock Exchange

Respondent

Procedural Posture

Civil Motion / Ruling on Challenge to Report of Director of Finance

Legal Issues

  1. 1 Scope and effect of the order appointing Director of Finance
  2. 2 Whether the report of the Director of Finance can be challenged by the Applicants
  3. 3 Whether the Respondent's objection to the Applicants' method is legitimate

Ratio Decidendi

The Director of Finance was not a Court Expert or Referee within the meaning of the procedural rules but was appointed to assist the parties in negotiating a settlement. Since the settlement was not accepted by both parties, it is not binding, and the Applicants are entitled to reject the report. The preliminary objection by the Respondent is dismissed, and the order appointing the Director of Finance is rescinded.

Court Disposition

Preliminary objection dismissed; report of Director of Finance rejected; order appointing Director of Finance rescinded.

Orders

  • The preliminary objection by the Respondent is dismissed.
  • The Applicants are entitled to reject the report of the Director of Finance.