Ofori Vrs Ecobankghana Ltd and Others [2021] GHASC 17 (24 March 2021)

Ofori Vrs Ecobankghana Ltd and Others [2021] GHASC 17 (24 March 2021)

The application for stay of execution is moot as the review application has been determined; however, the dissenting opinion holds that substantial justice requires granting stay of execution and ordering Plaintiff to return payments received pending resolution of entitlement.

Citation
[2021] GHASC 17
Parties
Plaintiff/appellant/respondent: Daniel Ofori; 1st Defendant/respondent/applicant: Ecobank Ghana Limited; 2nd Defendant/respondent: Securities and Exchange Commission; 3rd Defendant/respondent: Ghana Stock Exchange
Court
Supreme Court
Jurisdiction
Ghana
Judgment Date
24 March 2021
Procedural Posture
Civil Motion / Application for Stay of Execution Pending Review
Outcome
Majority: Application for stay of execution is moot and dismissed. Dissent: Application for stay of execution granted; Plaintiff to return payments received into escrow.
Legal Topics
Stay of Execution, Review Applications, Share Ownership, Dividend Entitlement
Source Language
English
Civil Procedure Equity Stay of Execution Review Applications Share Ownership Dividend Entitlement

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Party arguments 2 Amounts and remedies 1
Sign in to unlock

Parties

Daniel Ofori

Plaintiff/appellant/respondent

Ecobank Ghana Limited

1st Defendant/respondent/applicant

Securities and Exchange Commission

2nd Defendant/respondent

Ghana Stock Exchange

3rd Defendant/respondent

Procedural Posture

Civil Motion / Application for Stay of Execution Pending Review

Legal Issues

  1. 1 Whether the application for stay of execution is moot after determination of review application
  2. 2 Whether Plaintiff is entitled to execute judgment for payment for shares while receiving dividends on same shares
  3. 3 Whether Plaintiff should return payments received pending resolution of entitlement

Ratio Decidendi

The application for stay of execution is moot as the review application has been determined; however, the dissenting opinion holds that substantial justice requires granting stay of execution and ordering Plaintiff to return payments received pending resolution of entitlement.

Court Disposition

Majority: Application for stay of execution is moot and dismissed. Dissent: Application for stay of execution granted; Plaintiff to return payments received into escrow.

Orders

  • Application for stay of execution dismissed as moot (majority).
  • Application for stay of execution granted; Plaintiff to return payments received into escrow account pending resolution (dissent).