PENKENDON COMPANY LIMITED, PENKENDON WOOD PRODUCTS LTD. AND MRS. GEORGINA ACQUAH vs. CAL BANK LIMITED, SHADCO VENTURES LIMITED, SAMIR SAID EL MASIRI AND EKOW KUM AMUA-SEKYI

(1) The key issues arising from this appeal are not novel in our jurisprudence. They are primarily legal and procedural as they relate to the application of provisions of the Companies (Act 1963) Act 179 on corporate governance and the High Court (Civil Procedure) Rules 2004 C.I.47. In order that there will be a better appreciation of issues it is important to set out the factual background to the appeal in some detail. (2) By writ issued from the High Court Accra, the Plaintiffs/ Respondents, (hereinafter referred to as “the Respondents”), sought the following reliefs against the Defendants jointly and severally (the 2nd, 3rd and 4th of whom shall hereinafter be referred to as “the Appellants”). “a) A Declaration that Georgina Acquah the 3rd Plaintiff herein is by virtue of Letters of Administration granted by the High Court Sekondi dated 23rd June 1997 shareholder and administrator of 1st and 2nd Plaintiff companies. b) A De...