Court throws out application to halt HFC bank's EGM

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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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