IPO saga Afenyo Markin withdraws suit against ADB

The Effutu lawmaker acting on the instruction of his client Dr.Mark Assibey Yeboah slapped an injunction on the bank’s IPO arguing the IPO did not have Parliamentary approval

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The member of parliament for Effutu Alex Afenyo Markin has withdrawn a suit he filed on behalf of his client against the Agricultural Development Bank (ADB) at the Supreme Court.

According to him, his client Dr. Mark Assibey Yeboah arrived at the decision to withdraw the case after assurances by management of ADB to engage parliament to resolve the issues a statement which was denied vehemently by lawyer for ADB Tony Lithur who insisted that the his clients never had such talks with the plaintiff.

Read more: Afenyo Markin invited by CID for questioning over bribery allegations in ADB IPO saga.

The Effutu lawmaker had slapped an injunction on the bank’s IPO and prayed the court to compel  the bank to first seek Parliamentary approval before going ahead with the transaction.

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The bank, on Monday, September 14, 2015, served notice of the indefinite suspension of its IPO.

Read more: Afenyo Markin heads for supreme court

A statement signed by its Resource Coordinator, Justice Apenkwa directed its agents to return all shares sold.

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