EMMANUEL N. A. KOTEY AND 173 OTHERS vs. KWAME PIANAM AND 6 ORS

LOVELACE-JOHNSON (MS.) JSC :- The designation of the parties in the High Court will be maintained in this appeal. On 27th June 2013, the Court of Appeal dismissed an appeal by the plaintiffs against the judgment of the High Court in this matter. Being dissatisfied with this dismissal, they have launched a further appeal to this court. The plaintiffs per their amended writ had claimed for the following at the trial court: (a) An order pursuant to section 202, 209 and 218 of the companies Act, 1963 (Act 179) that the purported issue of new shares to the Nigerian entity was in breach of the statutory rights of the Plaintiffs, in breach of the 3rd Defendant’s Regulations, it is oppressive and in disregard of CIT’s proper interests as a Shareholder of the 3rd Defendant, unfairly discriminatory and unfairly prejudicial CIT members. (b) An order pursuant to sections 203, 209, 210 and 218 of Act 179 and equitable considerations that the 3rd Defendant failure to offer adequate empl...