Riasand Ventures Ltd Vrs Noble Gold Bibiani Ltd [2016] GHASC 9 (13 April 2016)

Riasand Ventures Ltd Vrs Noble Gold Bibiani Ltd [2016] GHASC 9 (13 April 2016)

The appellant failed to demonstrate that the Court of Appeal exercised its discretion wrongly or unjudicially in granting the stay of execution; therefore, the Supreme Court will not disturb the lower court's discretion.

Citation
[2016] GHASC 9
Parties
Petitioner/respondent/respondent/appellant: Riasand Ventures Ltd; Respondent/appellant/appellant/respondent: Noble Gold Bibiani Ltd
Court
Supreme Court
Jurisdiction
Ghana
Judgment Date
13 April 2016
Procedural Posture
Civil Appeal / Interlocutory Appeal – Supreme Court Judgment
Outcome
appeal dismissed
Legal Topics
Winding Up of Companies, Stay of Execution, Scheme of Arrangement, Exercise of Judicial Discretion
Source Language
English
Company Law Insolvency Law Civil Procedure Winding Up of Companies Stay of Execution Scheme of Arrangement Exercise of Judicial Discretion

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Parties

Riasand Ventures Ltd

Petitioner/respondent/respondent/appellant

Noble Gold Bibiani Ltd

Respondent/appellant/appellant/respondent

Procedural Posture

Civil Appeal / Interlocutory Appeal – Supreme Court Judgment

Legal Issues

  1. 1 Whether the Court of Appeal wrongly exercised its discretion in granting an unconditional stay of execution to the respondent
  2. 2 Whether the appellant was bound by the scheme of arrangement sanctioned by the High Court

Ratio Decidendi

The appellant failed to demonstrate that the Court of Appeal exercised its discretion wrongly or unjudicially in granting the stay of execution; therefore, the Supreme Court will not disturb the lower court's discretion.

Court Disposition

appeal dismissed