[2010]DLHC16750 • June 28, 2010 • High Court
OLUWOLE AJOMALE vs. AMALGAMTED BANK AND IN THE MATTER OF AN APPLICATION FOR AN ORDER OF COMMITTAL FOR CONTEMPT OF COURT THE REPUBLIC vs. STEPHAN ATA & 3ORS EXPARTE OLUWOLE AJOMALE
The Applicant, Oluwole Ajomale, a Nigerian national and former Managing Director and shareholder of Amalgamated Bank, purchased 1.1% shares in the bank in 2007. The bank later sought to cancel or reduce his shareholding to 0.55%, allegedly to avoid recapitalization directives from the Bank of Ghana. The Applicant filed suit to determine the quantum of his shares and obtained an interim injunction restraining interference with his shareholding. While the case was pending, the Respondents allegedly acted to classify the bank as locally owned, which the Applicant contended was intended to prejudice the court proceedings and his shareholding rights.
read moreRULING By a Notice of Motion filed on 15th day of April, 2010 by Lawyer Kwame Boafo Akuffo of Akufo-Addo, Prempeh & Co., Accra on behalf of Oluwole Ajomale, the Applicant in this instant application, the Applicant seeks an order for committal for contempt of court directed against the Respondents: 1. By commiting the 1st and 3rd Respondents, to prison for contempt of court, for willfully seeking to prejudice the outcome of the Applicant’s application for a determina- tion of the quantum of shares that he holds in 1st respondent bank. 2. By committing the 2nd and 4th Respondents and imposing a very heavy fine on the 2nd Respondent herein for contempt of court for willfully seeking to prejudice the outcome of the applicant’s application for a determination of the quantum of shares that he holds in 2nd Respondent bank. The power of the High Court to punish for contempt is provided in Articles 19(12) and 126 of the 1992 Republican Constitution of Ghana, and...