Ecobank-Griffin Case Ecobank finally agrees on payment plan with Griffin

Speaking to Pulse.com.gh, Mr Griffin said the bank on Monday withdrew their stay of execution and agreed on a payment plan with him.

  • Published:
24/7 Live - Subscribe to the Pulse Newsletter!

The legal battle between Ecobank Ghana and the former General Manager of the Ghana Ports and Harbours Authority (GPHA) whose account was drained without his consent can now be said to be over.

This is because the bank has signed an agreement to pay Mike Griffin the amount of money he lost, but without interest.

READ ALSO: #EcobankMustPayGriffin Litigation blues: Ecobank vs Griffin, who wins?

The two were set to battle it out on October 17, 2016, as the bank filed another stay of execution at the court with the case.

But speaking to Pulse.com.gh, Mr Griffin said the bank on Monday withdrew their stay of execution and agreed on a payment plan with him.

He said: “Upon the advice of my lawyer, we accepted some kind of settlement. They said they have credited it but I’m yet to go to the bank to check. They are ready to pay just the amount I lost without the interest. My lawyer said we should accept it instead of protracting the court case. I’m hoping it will come through by this weekend and then we will be through with the case.”

Background

The Commercial Division of the High Court in May 2016 fined Ecobank for failing to exercise due diligence and professionalism in protecting the account of Mike Griffin.

Mr. Griffin sued Ecobank for transferring his lifetime savings in both his local and foreign account into an unknown account without his consent while he was out of the country undergoing a heart surgery.

But Ecobank subsequently filed a motion for stay of execution as it appeals to the court to overturn the earlier ruling.

However, the court which was presided over by Justice Nobel Nkrumah on Friday July 22,2016 denied Ecobank the application for stay of execution.

Mr. Mike Griffin believes that if the bank had abided by the court’s ruling, the case would have ended long ago.

Recommended Articles

Recommended Videos





Top Articles

1 Mike Oquaye Ghana's Speaker of Parliament is a "big fool" - Sekou Nkrumahbullet
2 COCOBOD Matters Hackman shocked over GHc 70,000 salary for COCOBOD CEObullet
3 Cars for MDA's Prez Nana Addo halts purchase of new vehicles...bullet
4 REGSEC Coordinator Attack Delta Force Leader apologises to Nana...bullet
5 Pension Pay 40 former MPs drag govt to court over pension paybullet
6 AMERI Power Plant Here is the full report on the $510m...bullet
7 AMERI Power Plant NPP reveals more fishy deal on AMERIbullet
8 Wrong Robbery Suspected armed robber electrocuted at Oyarifabullet
9 AMERI Deal AMERI Power agreement was not fraudulent -...bullet
10 AMERI Power Plant NPP Committee report on AMERI power...bullet

Top Videos

1 Ghana@60 Agya Koo embarrassed Ghana at Independence Day - Asiedu Nketiabullet
2 Video Metro Mass bus catches fire on Cape Coast-Kasoa highwaybullet
3 Prophecy I predicted Kintampo accident - Prophetbullet
4 In Zimbabwe President Mugabe’s 70 year-old aide marries his...bullet
5 Meet Aisha the female mate who aspires to be a driverbullet
6 Obinim What happen'd when we fact checked Obinim's Bible knowledgebullet
7 Health Alert Fufu is killing Africans - Mensah Otabilbullet
8 Meet "The Beast" President Obama's Cadillac that's more...bullet
9 Video Taxi driver terrified after an encounter with a ghostbullet
10 Vitiligo Enam Honya - is challenging what you think...bullet

News