[2018]DLHC3697 • February 8, 2018 • High Court
DR. KWAME OWUSU vs. FAIRFAX OIL SERVICES LTD AND ANOTHER
The plaintiff, Dr. Kwame Owusu, was employed by the 1st defendant, Fairfax Oil Services Ltd, under a contract of employment which included a clause (4.3) entitling him to shares in both the 1st and 2nd defendants. Disputes arose regarding the enforcement of this clause and the termination of the plaintiff's employment. The plaintiff claimed entitlement to shares and damages for wrongful termination, while the defendants counterclaimed for unpaid rental charges for company property used by the plaintiff after his employment ended.
read more1. Interpretation of contract 2. Transfer of shares by a company – requirements 3. Offer of shares by a company to an employee-shareholder - factors to consider 4. Damages for constructive termination of employment 5. Sections 22, 56, 57, 59, 61, 62 of the Companies Act 1963 (Act 179) The Plaintiff by his amended writ of summons issued on the 18th March, 2016, asked for the following reliefs:- a. A declaration that the Plaintiff is entitled to 2% of the shares in the 2nd defendant company as per his contract of employment. b. A declaration that the Plaintiff is entitled to 5% of the shares in the 1st defendant company as per his contract of employment. c. An order directed to the 2nd defendant company to transfer 2% of its shares to the plaintiff. d. An order directed to the 1st defendant to transfer 5% of its shares to the Plaintiff. e. An order directed to the defendant companies, its privies, assigns and agents not to conduct themselves in any manner whatso.....