Can minority shareholders in Ghana challenge directors for approving related-party deals without disclosure?

Question

I hold a small stake in a private company and the directors recently approved contracts to a director’s relative without telling shareholders. I suspect the pricing is inflated and the company is losing money. What legal steps can I take to demand disclosure, reverse the deal, or hold the directors accountable?

Minkah-Premo, Osei-Bonsu, Bruce-Cathline &amp; Partners (MPOBB) · Accepted Answer

Dear Sir/Madam,

Thank you for your enquiry and for outlining the circumstances giving rise to your concerns.

Under Ghanaian company law, directors are subject to strict obligations in relation to conflicts of interest and transactions involving related parties. Where such transactions are undertaken without appropriate disclosure or approval, minority shareholders may, in certain circumstances, be entitled to seek information, question the validity of the transaction, and pursue remedies in the interests of the company.

The availability and strength of any such remedies will depend on a careful assessment of the company's constitution, the approval process followed, and the relevant facts and documentation.

A comprehensive legal opinion would therefore be required to properly evaluate the matter and advise on the appropriate course of action. We would be pleased to assist should you wish to formally engage us for this purpose.

Best Regards

Can minority shareholders in Ghana challenge directors for approving related-party deals without disclosure?

弁護士の回答

Minkah-Premo, Osei-Bonsu, Bruce-Cathline & Partners (MPOBB)

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