PETER KOJO BINEY AND OTHERS vs. GEOFFREY ADEBAYO BINEY AND ATLANTIC PORT SERVICES LIMITED

Introduction: [1] The Plaintiffs and the 1st Defendant are shareholders of the 2nd Defendant Company, Atlantic Port Services Ghana Limited. In this suit, the Plaintiffs accuse the 1st Defendant a Director and Managing Director of breaching his fiduciary duty to the 2nd Defendant by not preserving the assets of the Company. The issues for my resolution in this case include whether the 1st Defendant set up a rival Company in Liberia for his own benefit as against the interest of the other shareholders/Directors. The Plaintiffs are therefore seeking an order for accounts, an order for the payment of One Hundred and Fifty Thousand United States Dollars ($150,000) as rental fees for the use of the Company’s equipment in Liberia since 2008. In addition, the Plaintiffs claim interest at the prevailing bank rate on the amount of $150,000. Moreover, the Plaintiffs claim damages for breach of contract. [2] Further to the leave granted by this Court differently constituted, the Plaintiffs c.....