Ofori Vrs Ecobank Ghana Limited & 2 Ors [2020] GHASC 115 (11 March 2020)

Ofori Vrs Ecobank Ghana Limited & 2 Ors [2020] GHASC 115 (11 March 2020)

The Director of Finance was neither a Court Expert nor a Referee but was appointed to assist the parties in negotiating a settlement. The resulting report was not binding unless accepted by both parties. Since the Applicants rejected the report, it cannot be enforced, and the order appointing the Director of Finance is rescinded to allow the court to resolve the remaining issues.

Citation
[2020] GHASC 115
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 Application to Challenge Report of Director of Finance Regarding Interest Computation
Outcome
Application to challenge the Director of Finance's report allowed; preliminary objection dismissed; report rejected; previous order rescinded.
Legal Topics
Interest Computation, Court Appointed Experts, Alternative Dispute Resolution, Enforcement of Judgments
Source Language
English
Civil Procedure Banking Law Interest Computation Court Appointed Experts Alternative Dispute Resolution Enforcement of Judgments

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 Application to Challenge Report of Director of Finance Regarding Interest Computation

Legal Issues

  1. 1 Scope and effect of the Supreme Court's order dated 10th July 2019
  2. 2 Whether the Director of Finance acted as a Court Expert or Referee
  3. 3 Whether the Applicants can challenge the report of the Director of Finance

Ratio Decidendi

The Director of Finance was neither a Court Expert nor a Referee but was appointed to assist the parties in negotiating a settlement. The resulting report was not binding unless accepted by both parties. Since the Applicants rejected the report, it cannot be enforced, and the order appointing the Director of Finance is rescinded to allow the court to resolve the remaining issues.

Court Disposition

Application to challenge the Director of Finance's report allowed; preliminary objection dismissed; report rejected; previous order rescinded.

Orders

  • The preliminary objection by the Respondent is dismissed.
  • The report of the Director of Finance is rejected.