The labour division of an Accra High Court has adjourned ruling on an application for interlocutory injunction brought before it by Union of Industry Commerce and Finance Workers (UNICOF) against Agricultural Development Bank (ADB).
The deferring of the court ruling according to the trail judge is to allow for the court to assess the arguments raised by both counsels.
[contextly_sidebar id=”FBCTnonUA1kQQAUcpGR6nws3JOAELt0z”]UNICOF last week filed an application to prevent ADB from resuming the sale of its shares until the substantive case before the court was heard.
UNCOF earlier slapped a 10 day order of interim injunction on the sale of the IPO of ADB which has since elapsed.
Lawyer for UNICOF Charles Bawaduah who spoke to Citi Business News after the case was heard said ‘this is a case that both parties made lengthy submissions, several documents were referred to and several documents have been attached to the affidavit in support to the cases of both parties. In that situation it is clear that the judge will have to study all these documents and look at these lengthy arguments to be able to write a decision and so the adjournment of the case to August 6 does not surprise me.”
Lead counsel for ADB, Tony Lithur argued in court that the application for the interlocutory injunction was frivolous, mischievous, and complete abuse of the process of the Honorable court as it is intended to harm defendant bank ADB’s shareholder value and state interest and must not be granted.
The new date for the ruling is August 6,2015.
By: Norvan Acquah – Hayford/citifmonline.com/Ghana