The Member of Parliament for New Juaben South, Mark Assibey Yeboah, has withdrawn a suit he filed against the Agricultural Development Bank (ADB) at the Supreme Court.
[contextly_sidebar id=”9cpOfmsE0xmFGcnPWUSGIVtZBly1RStS”]Lawyer for the plaintiff, Alexander Afenyo Markin, who announced this in court, said the decision to withdraw the case was due to assurances by management of ADB to engage parliament to resolve the issues of contention.
But the reason cited was vehemently denied by lawyer for ADB Tony Lithur, who stated that his clients never held talks with the plaintiff.
Dr. Mark Assibey Yeboah was accusing the bank of failing to seek parliamentary approval for its Initial Public Offer (IPO) that would have paved the way for it to list on the Ghana Stock Exchange (GSE).
The Supreme Court in accordance struck out the case and declined to award any cost.
Dr. Assibey-Yeboah had insisted that the bank’s initial Public Offer ought to seek Parliamentary approval.
The MP had invoked the original jurisdiction of the Supreme Court to compel the bank to seek parliamentary approval before it proceeds with the planned public offer.
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By: Fred Djabanor/citifmonline.com/Ghana