Audio By Carbonatix
The ongoing legal dispute between Dram Oil & Trading Limited (Dram) and Deloitte & Touche Ghana (Deloitte Ghana) is drawing increasing international attention, with potential legal implications extending to the United Kingdom and other jurisdictions.
Information made available to the Ghana News Agency indicates that the matter has material links to the United Kingdom through a UK-based financial counterparty whose position was directly connected to the conduct at the centre of the dispute.
Mr Nigel Heilpern, a Counsel at Avonhurst Legal Services LLP, English solicitors acting for Dram, said they had reviewed the cross-border legal implications of the matter under English law, particularly in relation to possible vicarious liability within the wider Deloitte network.
He said, according to the review, there was a credible basis for instituting proceedings in England and Wales against UK-based Deloitte entities following the conclusion of the Ghanaian proceedings.
He said the potential claims were said to arise from issues of vicarious liability and agency linked to the operational control allegedly exercised by Deloitte South Africa over Deloitte Ghana, and by Deloitte UK over regional operations, audit methodology, standards and decision-making within the governance structure of Deloitte Touche Tohmatsu Limited.
The review also referenced Deloitte’s Global Principles of Business Conduct, which present the Deloitte network as operating under common professional standards of quality and accountability across member firms.
He said Dram Oil cited the February 23, 2009, ruling by the United States District Court for the Southern District of New York in the Parmalat Securities Litigation involving Deloitte as part of the broader legal context under consideration.
He said Dram expressly reserved all rights to pursue proceedings and recovery measures in England and Wales, as well as in any other appropriate jurisdiction, adding that the implications for UK-based Deloitte entities remained under active legal review.
The company said it remained committed to pursuing the proceedings to their “full and final conclusion” and achieving accountability for the losses it claimed to have suffered.
“No settlement proposal extinguishing its claims without accountability had been or would be accepted,” he added.
The proceedings, currently before the Accra Commercial Division of the High Court, arise from what Dram Oil described as the seriously alleged improper conduct of a Deloitte Ghana partner in connection with a court-ordered audit engagement.
Dram Oil alleged that the conduct caused substantial and continuing financial losses to the company, while related matters referred to the Ghana Police Service remain under review.
According to Dram Oil, the proceedings were active and continuing, with Ghanaian courts having dismissed or struck out applications filed by Deloitte Ghana seeking to inhibit, limit or strike out the company’s claims.
The company said the case was advancing toward full determination on its merits.
Dram Oil also said Deloitte Ghana had allegedly expressed willingness to resolve the dispute only on terms requiring the discontinuation of proceedings and the abandonment of all present and future claims across jurisdictions.
The company said it had rejected those terms, insisting that the issues before the Ghanaian court required a full judicial determination and accountability, including in relation to the matter's wider cross-border dimensions.
Latest Stories
-
WAVVZ founder strengthens Ghana-US creative ties through fashion
6 minutes -
UMA-Subika’s majority-local workforce sets a new benchmark for Ghanaian mining
16 minutes -
Gov’t proposes 10-year fixed term for Chief Justice, 19-member cap for Supreme Court
18 minutes -
Social media reactions to Sedina Tamakloe-Attionu’s acquittal by Court of Appeal
32 minutes -
Government rejects proposal to tax President’s ex gratia and pension benefits – Ayine
34 minutes -
Former UCC, UHAS SRC President Abraham Nortey declares NDC parliamentary bid for Domeabra-Obom
35 minutes -
Central Banks Bought Far Less Gold Than Thought at Start of Year
37 minutes -
Gov’t backs 300-seat Parliament with reserved representation for women, youth, PWDs under proposed constitutional reforms
45 minutes -
Gov’t supports moving presidential elections to November under constitutional reforms
50 minutes -
Dual citizens may contest Parliament without renouncing foreign citizenship under proposed reforms
54 minutes -
Government’s response to Constitutional Review report is not a white paper – Ayine
58 minutes -
NPP describes Tamakloe acquittal as “travesty of justice,” demands Wontumi discharge
1 hour -
Government proposes 35-year minimum age for presidential candidates, rejects CRC’s 30 years recommendation
1 hour -
Government backs five-year presidential and parliamentary term proposal
1 hour -
Think before you type: Respect must extend online
1 hour