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STANDARD BANK OFF SHORE TRUST v. NATIONAL INVESTMENT BANK

2016

COURT OF APPEAL

GHANA

CORAM

  • A. M. DORDZIE (MRS), JA

Areas of Law

  • Civil Procedure
  • Contract Law

AI Generated Summary

The High Court Commercial Division ruled in favor of the respondent, awarding $60 million plus interest against the National Investment Bank. The Court of Appeal dismissed the bank's appeal. The applicant further appealed to the Supreme Court and sought an interim injunction to prevent the respondent from enforcing the judgment or suspending its operation pending the Supreme Court's decision. The Court of Appeal held it has jurisdiction under Rule 31(d) of C. I. 19 to make interim orders or grant injunctions. The court granted the application on the condition that the applicant deposits $45 million into the Bank of Ghana within two months.

RULING