[2017]DLCA5022 • March 16, 2017 • Court of Appeal
REISS & COMPANY LIMITED vs. HENRY NUERTEY KORBOE AND THREE OTHERS
The Plaintiff, Reiss & Company Limited, sued the Defendants jointly and severally for GH¢920,000.00, alleging that the 1st Defendant, as its Sales Manager, fraudulently sold agrochemicals on credit to the 2nd and 3rd Defendants and failed to account for the proceeds. The Plaintiff claimed breach of fiduciary duty and sought tracing of the sum to the 1st Defendant's assets, an account of agrochemicals imported and sold by the Defendants, and judicial sale of specified properties to satisfy any judgment. The Defendants denied employment and fiduciary relationships, denied the debt, and alleged no fraudulent dealings. The trial court found in favor of the Plaintiff on key issues including fiduciary duty, veil lifting, and tracing of assets.
read moreADUAMA OSEI JA: In this judgment, the Plaintiff/Respondent is referred to as “the Plaintiff”, and the Defendants/Appellants are referred to as “the Defendants”. By its writ of summons issued in the Fast Track Division of the High Court, Accra, on the 15th of December, 2008, the Plaintiff sought against the Defendants jointly and severally a claim for the sum of GH¢920,000.00, “being the cost of the Plaintiff’s agrochemicals the 1st Defendant fraudulently and in breach of fiduciary duty and trust to the Plaintiff sold as the Sales Manager of the Plaintiff company on credit to the 2nd and 3rd Defendants and other customers but which said sum the 1st Defendant failed to account for or pay back to the Plaintiff company despite repeated demands”. By the said writ, the Plaintiff also sought against the Defendants declarations that it was entitled to trace the above-stated sum of GH¢920,000.00 to certain specified assets of the 1st Defendant, and to an account from th...