Egbert Faibille, Counsel for the Executive Director of the Center for Freedom and Accuracy, has described the dismissal of the suit challenging the sale of SSNIT’s 90 percent stake in Merchant Bank to private equity firm, Fortiz, as “interesting”.
According to him, in spite of the fact that the court recognized Mr. Andrew Awuni, on whose behalf the suit was filed as a contributor of Social Security and National Investment Trust (SSNIT) pension scheme, it went on to rule that he had no capacity to sue.
“…I think that the ruling is a very interesting one. My reasons are that, Mr. Andrew Awuni was recognized by the court as a contributor to the SSNIT pensions’ scheme but the court stated that despite his contributions, SSNIT cannot be dragged to court, even if it engages in bad transactions,” he explained.
Addressing the issue on NEAT FM, Lawyer Faibille was also surprised about the fact that his client was not slapped with a fine even though his case was thrown out.
“…normally, when a court rules that one does not have the capacity to sue, the court would have slapped a heavy find for disturbing the court but the court on its own motion said no cost would be awarded and that is a little bit interesting again”.
He made this comments after an Accra High Court, on Wednesday, dismissed the suit he filed on behalf of his client with the aim of halting the sale of Merchant Bank to the Fortiz.
Mr. Awuni was seeking an injunction to prevent the parties from taking further action to complete the sale, but the court ruled that he lacked the capacity to challenge the deal.
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