Court Slaps $14 million Damages On Stanchart

An Accra Fast Track High Court on Thursday awarded damages of 14 million dollars against Standard Chartered Bank Limited, to an Accra based businessman Akwasi Boakye Osei and his corporate entity-Ghana Heights Company. The damages were awarded for various offences against the Plaintiff. The court also awarded a cost of GH¢30,000 to the plaintiff against the bank. The court Presided over by Justice Ofori Atta, found the bank culpable for wrongfully dishonouring the various cheques issued by the plaintiff, which caused embarrassment to him. The court also found the bank guilty for conspiracy and defamation of the person of the plaintiff, which could have led to his prosecution per the Criminal code. In his judgment Justice Ofori Atta cited various authorities about banker customer relations and stated that these relations are governed by laws of which the bank should have taken them into consideration. He said the bank throughout the trial did not show any remorse but tried hard to suppress evidence of its wrong doing. He said evidence on record showed that the plaintiff issued five cheques within a spate of six months and all these cheques were dishonoured though evidence during the trial proved that the plaintiff had monies in his account which could have settled those cheques. On the suppression of evidence he cited instances when one of the cheques was purported to have being received by the bank at 02:54 hours. The court said the conduct of the bank leaves much to be desired.