Tsatsu Tsikata, clash at Supreme Court

•    Mr. Tsatsu Tsikata

• Mr. Tsatsu Tsikata

There was drama at the Supreme Court yesterday between Mr. Tsatsu Tsikata and the National Investment Bank (NIB), as to who should represent the financial institution (NIB) as its solicitor in a Review Motion.

The motion was filed by Mr Kwame Pianim on behalf of Standard Bank Off shore Trust Company Limited and another against NIB.

Whilst the bank through its Deputy Managing Director, Mr Fred George Thompson told the court presided by the Chief Justice, Ms Sophia Akuffo that the Board of Directors had dispensed of Mr Tsikata’s services as their solicitor, the celebrated lawyer maintained that he was still the solicitor of the bank.

This “tussle” however, compelled the Apex Court to adjourn the case to Tuesday, January 23, 2018, by which time the parties would have resolved the issue amicably.

As to what might have informed the decision of the Board of Directors to change Mr Tsikata as their solicitor, was not disclosed in the court room.

Ms Justice Akuffo said that the court did not want to meddle in the private affairs of the two parties and advised them to try as best as they could, to settle their differences and pave the way for the substantive motion to be heard.

The other judges were Mr Justice William Atuguba, Mr Justice Julius Ansah, Mrs Justice Sophia Adinyira, Mr Justice Jones Dotse, Mr Justice Anin Yeboah and Mr Justice Anthony A. Benin.

It would be recalled that the Supreme Court in June 21, 2017, unanimously set aside all proceedings founded on the writ of summons including the Judgements of both the High Court and Court of Appeal which said that Standard Bank Offshore Trust Company Limited and Dominion Corporate Trustees Limited could recover US$60 million from the National Investment Bank being the unpaid guarantee per Aval ranted by the bank in respect of promissory notes issued by Eland International Ghana Limited and discounted to the beneficiaries of the two companies and which said per Aval Guarantee NIB had either failed or refused to honour upon default by Eland International Gh. Ltd despite several and repeated demands made.

But NIB resisted the claims and said that it did not guarantee the promissory notes issued by Eland International Gh. Ltd, did not also confirm the alleged guarantee nor held Mr Daniel Charles Gyimah, former Managing Director, out as having the sole authority or the authority of its Board of Directors to sign any guarantee or confirm any guarantee on behalf of the Bank (NIB).

The bank was of the view that the entire transaction was tainted with fraud.

By Castro Zangina-Tong                    

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