Court throws out application to halt HFC bank’s EGM

The court of appeal has thrown out the request by a shareholder of HFC Bank to stop SSNIT from going ahead with a meeting  remove three directors on the board of the bank.  

The shareholder took the case to  the Appeals Court  after a High Court threw out an earlier request on grounds that the lawyer representing him did not  have a valid license to practice. 

Giving his ruling, head of the three Court of Appeal Justices, Justice Kusi-Appouh said  they decided to throw  out the case because the shareholder was unable demonstrate that if the meeting should go ahead  it would  cause any  damage to him.

Speaking to Joy Business after the  ruling,  Lawyer for the shareholder, Robert  Yartey, said he will be looking at the options available to him.

General Manager of the Counsel Division of SSNIT (who represented the Trust in court), Peter Hayibor, said all is set for Extraordinary General Meeting on Tuesday March 10, 2014.

SSNIT had wanted the Court to grant a request to set a new date for the EGM, however, the Appeals Court Justices declined.

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