Accra, Feb. 23, GNA - Mr Prince Kofi Kludjeson, President of the Association of Ghana Industries (AGI) has appealed against the decision of an Accra Fast Track High Court that barred him from being a director or to be concerned with the management of any company incorporated under the Companies Code for fours years, without the leave of the Court.
This was made known when Mr Kludjeson appeared before the Court praying it for an order of stay of execution pending the determination of the appeal.
According to the writ, the appeal has a high chance of success if Mr Kludjeson wins on the appeal and his disbarment could not be compensated for by damages.
The FTHC after hearing the grounds of appeal granted the application of stay of execution.
In October last year, judgement was given in a case involving Mr Kludjeson and eight others against Celltel Limited. In the case, following a request from Celltel Limited (the plaintiff) in 1999, the defendants submitted quotation and won a contract to supply 24 generator sets at the Company's cell sites at a contract sum of 509,274 dollars inclusive of Value Added Tax.
At the request of the defendants, the whole contract sum was deposited in a Standard Chartered Bank account provided by them, but only two of the 24 generators were installed.
The Company, therefore, sued for the recovery of 474, 232 dollars including interest from January 21, 1999 till date of payment to plaintiff at the London Inter Bank Ordinary Rate (LIBOR) and a four per cent exemplary damages and cost.
In the case of Mr Kludjeson, plaintiff sought for the disqualification in terms of Section 186 of the Company Code of 1963 Act 197. The FTHC in its judgement awarded exemplary damages and cost of 300,000 dollars against defendants and asked them to jointly and severally, pay the money.
The Court was of the view that those who should be saddled with the refunding of the plaintiff's money were Mr Kludjeson, Kludjeson International, and Kludjeson International Corporation.
According to the court Mr Kludjeson was the architect and the executor of the plan of duping the plaintiff of 509,274 dollars.
Other defendants were Stephen Kweku Agrobesah, Stephen Quarcoo Agrobesah, Michael Quarcoo Agrobesah and Lucas Paul Adotey Addo.