Case Overview

The case of Afare Apeadu Donkor vs. Ecobank Ghana Limited & EDC Stockbrokerage Ltd revolves around the unlawful retention of the plaintiff's shares by the defendants, resulting in a loss of value. The plaintiff had used his shares as collateral for a loan facility granted to a third party, which was later cancelled due to a suspended share sale transaction.

Area of Law

This case falls under the area of Administration of Estate, specifically dealing with the principles of securities, loan facilities, and the rights of shareholders.

Key Legal Issue

The central question addressed by the court was whether the decision of the Supreme Court in the Daniel Ofori case, which determined that the share sale transaction had been consummated, affected the plaintiff's claim for damages due to the unlawful retention of his shares.

Legal Principles Applied

Key legal principles applied in this case include the concept of ratio decidendi, the binding effect of superior court decisions on lower courts, and the principles governing the award of damages for unlawful retention of shares.

The Ruling

The Supreme Court dismissed the plaintiff's appeal, affirming the Court of Appeal's decision that the plaintiff was not entitled to damages due to the unlawful retention of his shares, as the share sale transaction had been consummated and the loan facility was still in effect.

Significance

This case is significant for legal practitioners as it highlights the importance of understanding the binding effect of superior court decisions and the application of legal principles in complex securities and loan transactions.