AFARE APEADU DONKOR V. ECOBANK GHANA LIMITED & EDC STOCKBROKERAGE LTD

JUDGMENT

KOOMSON JSC:

This is an appeal against the judgment of the Court of Appeal dated 22^nd December, 2020 allowing the appeal against the judgment of the High Court which held that the Plaintiff/Respondent/Appellant (hereinafter referred to as Plaintiff) was entitled to an amount of Six Million Seven Hundred and Seventy Thousand Four Hundred and Forty Ghana Cedis (GH¢6,770,440.00) as special damages for unlawful retention of the Appellant’s shares by the Defendants/Appellants/Respondents (hereinafter referred to as Defendants).

FACTS

On 27^th May 2008, Mr. William Oppong Bio sought to buy the listed shares of Mr. Daniel Ofori in Cal Bank Ghana Ltd. Funding for the acquisition by Mr. Oppong was through a loan facility from the 1^st Defendant. The Plaintiff had agreed to use his shares also in Cal Bank as collateral to secure the repayment of the loan facility granted to Mr. Oppong Bio. Thus, the Plaintiff deposited the share certificate in respect of his 18,120,000 shares with the 1^st …