[2007]DLCA6973 • February 16, 2007 • Court of Appeal
SPPEEDLINE STEVEDORING CO. LTD vs. S. M KOTEI & ANOR.
The appellants, both court registrars, were appointed by the High Court as Receivers and Managers of Speedline Stevedoring Co. Ltd pending resolution of shareholder disputes. They managed the company for over three years and were entitled to 6% commission on proceeds. After handing over management, audits revealed significant unaccounted funds. The company sued the appellants for misappropriation of funds including excess commission, consultancy fees, protocol payments, withholding tax, and a car loan. The appellants denied liability and counterclaimed for outstanding commissions.
read moreKANYOKE J.A: The 1st defendant/appellant (herein the 1st appellant) was a Chief Registrar whilst the 2nd defendant appellant (herein the 2nd appellant) was a Deputy Chief Registrar, both in the Judicial Service, Accra. On the 31st July 1997 the appellants were appointed by the High Court, Accra as Receivers and Managers of the plaintiff/Respondent company (herein the respondent company or company) pending the final determination of a suit involving the shareholders and directorship of the company. The appellants were by the terms of their appointment to be entitled to 6% commission of the proceeds of the company during their tenure of office. The appellants managed the company for 3 and half years. Subsequently, upon an order of the High Court, Accra, differently constituted, dated the 31st January 2001; the appellants handed over the management of the company to the original persons. Before then the appellants had appointed a firm of auditors Sraha and Associates to audit the manag...