P.S. INVESTMENT LIMITED vs. CENTRAL REGIONAL DEVELOPMENT CORPORATION AND OTHERS [2012]DLSC2595

Date	2012-04-18
Suit No.	CIVIL APPEAL NO. J4/40/2011
Citation No.	[2012]DLSC2595

ADINYIRA (MRS) JSC (PRESIDING)

OWUSU (MS) JSC

DOTSE JSC

YEBOAH JSC

BONNIE JSC

FELIX NTRAKWA WITH HIM KWADWO GYASI NTRAKWA FOR THE PLAINTIFF / APPELLANT/APPELLANT.

NII ODOI ODOTEI WITH HIM MARTIN KPEBU FOR THE 2ND DEFENDANT /RESPONDENT/RESPONDENT.

CECIL ADADEVOR (SENIOR STATE ATTORNEY) FOR THE 3RD DEFENDANT /RESPONDENT/RESPONDENT.

[2012]DLSC2595
																																						<div class="restriction-wrapper">
														<div class="container-lg">
															<div class="row">
																<div class="col-md-12 restricted-content">
																	<div class="restricted-content-img-wrapper">
																		<div class="lock-icon bounce-7">
																			<img class=""
																				src="https://www.dennislawgh.com/dl-assets/dl-images/lock-content.png"
																				alt="Subscription based content">
																		</div>
																	</div>
																	 
																		<a href="https://www.dennislawgh.com/login"
																		class="btn btn-primary btn-lg"
																		style="font-family: 'open sans'; text-transform: capitalize; border-radius: 8px"> 
																		Login to Read Full Case </a>
																	 
																	
																</div>
															</div>
														</div>
													</div>
													<main id="main" class="content" style="min-height: 60rem" >P.S. INVESTMENT LIMITED<o:p></o:p>vs.<o:p></o:p>CENTRAL REGIONAL DEVELOPMENT CORPORATION AND OTHERS<o:p></o:p>&nbsp;[SUPREME COURT, ACCRA]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

CIVIL APPEAL NO. J4/40/2011&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;DATE: 18TH APRIL, 2012<o:p></o:p>

</div>COUNSEL:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p>FELIX NTRAKWA WITH HIM
KWADWO GYASI NTRAKWA FOR THE PLAINTIFF / APPELLANT/APPELLANT.<o:p></o:p>NII ODOI ODOTEI WITH HIM
MARTIN KPEBU FOR THE 2ND DEFENDANT /RESPONDENT/RESPONDENT.<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

CECIL
ADADEVOR (SENIOR STATE ATTORNEY) FOR THE 3RD DEFENDANT /RESPONDENT/RESPONDENT.<o:p></o:p>

</div>CORAM: <o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

ADINYIRA (MRS) JSC (PRESIDING), OWUSU (MS) JSC,
DOTSE JSC, YEBOAH JSC, BONNIE JSC<o:p></o:p>

</div><o:p>&nbsp;</o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

JUDGEMENT<o:p></o:p>

</div><o:p>&nbsp;</o:p>DOTSE
JSC: <o:p></o:p>In view of the peculiar facts and circumstances of
this appeal, we deem it expedient to state in some detail, the facts of the case
as we deem it relevant and applicable to the issues germane to the resolution
of the appeal herein.<o:p></o:p>The Plaintiff/Appellant/Appellant, hereafter
referred to as Plaintiff is a shareholder in Twifo Oil Palm Plantation Limited
(TOPP) a company incorporated under the laws of Ghana and engaged in the
cultivation of oil palm at the TOPP who are themselves the 14th
Defendants/Respondents/Respondents and together with the other Defendants are hereafter
referred to simply as 1st – 14th Defendants as appearing above.<o:p></o:p>In order to understand the dynamics of the
shareholding structure of the 14th Defendant, it is proper to set
out in detail the said shareholding structure as provided in the record:<o:p></o:p>i.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Central
Regional Development Corporation &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80.46%<o:p></o:p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (CEREDEC)
– (1st Defendant)<o:p></o:p><o:p>&nbsp;</o:p>ii.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; State
Insurance Company (SIC)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.21%<o:p></o:p><o:p>&nbsp;</o:p>iii.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Paterson
Zochonis PLC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.47%<o:p></o:p><o:p>&nbsp;</o:p>