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Court orders Donewell Insurance Board to remain in office

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An Accra Fast Track High Court (Commercial Division), on Thursday ruled that the new board of Donewell Insurance should remain in office and allow the shareholding structure to be functional.

The court presided over by Ms Justice Barbara Ackah-Yensu, advised members of the Board not to take any decisions regarding the shareholding.

Ms Ackah-Yensu also directed the Court Administrator to place the case before a pre-trial judge as early as possible.

The judge refused to grant the relief sought by the former directors of Donewell, who were removed from office for non-performance, to restrain the company from going ahead with the scheduled Annual General Meeting.

The court also failed to grant the former directors their request for the setting aside of the resolutions that were passed by the shareholders to remove them from office at an extra ordinary general meeting on June 10, 2010.

Ms Ackah-Yensu ruled that with leave of the court, an Annual General Meeting and extra-ordinary general meeting could be called by the new directors or requisitioned by the shareholders until the final determination of the case.

The plaintiffs are Mr T.E. Osam-Duodu, Mrs Naomi Okine, King Tackie-Tawiah III, Ga Mantse, Mr J.S. Addo former Chairman of the Board and Mr Yaw Osafo-Maafo.

The defendants are Donewell Insurance Company Limited, Dr Ato Essuman, Mr Sisi Crentsil, Centre Link Investment Limited, Mr Francis Collins Annan, Mr Richard Stanley Quarshie, Mr Kish Ato Odum, Mr Ben Aryee and Mr A.B. Ankrah.

The plaintiffs have Mr Moses Foh-Amoaning as their counsel whilst Mr Dua Adonteng and Mr Kakra Essamuah are representing the defendants.

Source: GNA

Government is working to Secure improved market opportunities – Ms Tetteh

Ms Hannah Tetteh, Minister of Trade and Industry (MOTI) on  Friday reiterated government’s support and participation at regional, bilateral and multilateral trade levels to ensure that Ghana’s interests are secured for the development of the country.

She said government recognized that trading rules had a direct impact on Ghana’s development, especially in the context of globalization.

This was contained in an opening speech read for her by Mr. Eric Affram of the National Board for Small Scale Industries (NBSSI) at an on going sensitization and information sharing workshop in Bolgatanga where stakeholders discussed key international trade negotiation processes which Ghana was currently participating in.

Ms Tetteh defined MOTI’s objective as obtaining reductions in tariffs, elimination of non-tariff barriers on goods produced in Ghana for export and obtaining subsidies on products which compete with Ghanaian exports, among others.

“In seeking these objectives, MOTI aims at helping to develop the agricultural and industrial sectors to compete in international markets”, she added.

She found the workshop crucial for stakeholders as most of them often did not get the opportunity to participate in negotiations which by their international nature, often involved intergovernmental processes.

The sensitization programme would offer stakeholders the opportunity to understand issues, provide critical input into the negotiating processes, and get them informed about their outcomes as well as the implications of the rules for international trade established in those outcomes.

Ms Tetteh said in all engagements, it was the private sector that should ultimately define Ghana’s position in all trade negotiations. “The policy position of MOTI in negotiations is to secure improved market opportunities, support competitive production and support Ghana’s export development”, she said.

The Trade Minister said MOTI was currently engaged in three parallel negotiation processes at the multilateral, regional and bilateral levels among which at the regional level, MOTI as key player was engaged in the Economic Community of West African States (ECOWAS) regional negotiation process that focused on a Common External Tariff (CET),

Mr. Joshua Azure, Upper East Regional Officer of MOTI, said his outfit recognized that the country’s economy would make meaningful impact through trade and that the workshop was organized to enhance participants’ knowledge on trade rules.

He urged participants to come out with submissions for viable inputs into the position of Ghana in her engagements in the international trade negotiating process.

Source: GNA

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