Awuni Withdraws First Suit

Mr. AwuniMr. Andrew Awuni yesterday with-drew his first suit on the sale of Merchant Bank from an Accra Fast Track High Court to enable an Accra Commercial Court begin hearing on a fresh suit filed at the court.

The counsel for Mr. Awuni, Egbert Faibille told the court, presided over by L.L Mensah, that his client has chosen to discontinue the case to facilitate hearing on the new writ filed at the commercial court.

The court awarded GH¢ 200 cost against Mr. Awuni.

Mr. Awuni, on November 15, filed the suit at the fast track court against four institutions which were at the centre of the sale.

They are the Social Security and National Insurance Trust (SSNIT), Merchant Bank, Fortiz Equity Fund, and the Bank of Ghana (BoG).

He, again, filed an interlocutory injunction on November 22 to halt further transactions on the sale pending the determination of the court, but decided to discontinue the matter and rather pursue it in the Commercial Court.

He has therefore filed a fresh suit at the commercial court against 13 institutions and persons who are at the centre of the sale.

The defendants in the new writ include the Social Security and National Insurance Trust (SSNIT), Fortiz, the Bank of Ghana (BoG), KPMG, all the board members of Merchant Bank as at the initial stage of the sale and three other persons.

Mr. Awuni has prayed the commercial court to restrain the parties from consummating further transactions.

Print Friendly

Leave a Comment