High Court Injunction Restrains Sale of Standard Chartered Bank

A landmark ruling was recently made by the High Court of Sierra Leone in a matter between the Standard Chartered Bank (as Defendant), and two others (former employees of the bank, as Plaintiffs), earlier this week.

Ruling in favour of the Plaintiffs (Former Employees) was pronounced by Justice Leonard Taylor, who categorically forestalled the Standard Chartered Bank’s Management from selling the institution.

The Judge emphatically ordered the Bank’s Management not to sell the bank or corporation without the consent of the court’s orders and better still notify the court with respect to the subject matter.

It could be recalled that in 2022, two former employees of the Standard Chartered Bank took the bank to court for wrongful dismissal from work, ill-treatment and damaging their status or credibility as professionals.

The lawyers for the two former workers (plaintiffs), on behalf of their clients sue the bank to court, asking for the court to put an injunction on the Bank’s Management not to proceed with the selling of the bank.

Also, the Counsels requested the Court to forestall any movement the Bank’s Management is planning to take, as the Counsels further revealed that – they had gotten an intelligence that the Bank’s Management is planning to shut down its operations in the country and depart without settling the many issues they have with both past and present staff.

Owing to this fact, the Counsels for the Plaintiffs also prayed for the Court to restrict the sale of the bank until it provides security that could cover their claim in the event their clients succeed in the substantive case before the court.

In more than a year of debate in the Court, the parent company (Standard Chartered) agreed to pay the sum of 1,200,000 United States dollars as ordered by the Court into the accounts to be managed by the solicitors of both parties until the case is heard and settled.



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