Contempt of Court Standard Chartered bank CEO cited for contempt over redundancy exercise

Kweku Bedu-Addo risk going to jail if he fails to purge himself by June 6, according to judgment delivered by Justice Kweku Ackaah Boafo.

  • Published:
Kweku Bedu-Addo, CEO of Standard Chartered bank play

Kweku Bedu-Addo, CEO of Standard Chartered bank

24/7 Live - Subscribe to the Pulse Newsletter!

Chief Executive Officer of Standard Chartered bank has been cited for contempt by an Accra high court for failing to obey a court order restraining the bank from going ahead with a redundancy exercise.

Kweku Bedu-Addo risk going to jail if he fails to purge himself by June 6, according to a judgment delivered by Justice Kweku Ackaah Boafo.

The Human Resource Manager of the Bank Rosie Ebe-Arthur was also cited for contempt by the court.

The two are to pay GHC20,000 or risk servicing a 21-day term in jail.

Some workers who were affected by the exercise dragged the bank to court over the package being offered to them.

The court held that the CEO and the HR woefully failed to obey an interlocutory injunction filed by the plaintiffs restraining them to implement an MoU its signed with the union of industry, commerce and finance workers who negotiated on behalf of the workers.

According to the writ filed by the workers, the said MoU signed on their behalf is fraudulent and does not have the requisite mandate and imput.

They contend that the deal will see the workers lose about half of their entitlement due them following the number of years they have worked in the bank.

The latest development means the bank will have to recall the affected workers and also put on hold the MoU following it contention in court.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email:

Recommended Articles

Recommended Videos

Top Articles

1 Software Scandal EOCO indicts SSNIT managers over $72m software scandalbullet
2 Collapsed Banks Assets of UT Bank and Capital Bank for salebullet
3 Salaries In 2018 Here are the dates public workers will be paid in 2018bullet
4 David Ampofo Writes Is Ghana's cashew another cocoa?bullet
5 Taxes In Ghana 3% VAT flat rate takes off in July 1bullet
6 Menzgold Ghana Don't deposit money with Menzgold – BoG...bullet
7 In Accra Susu collectors give gov’t 1 week ultimatum to stop...bullet
8 NPP Government Nana Addo nominates Dr Agnes Adu as MD of GTFCbullet
9 In Singapore Government to pay bonus to all citizens...bullet
10 Excise Tax Stamp Act Gov’t threatens to sanction...bullet

Top Videos

1 New Discovery Ghana discovers new mineral, lithium in commercial quantitiesbullet
2 Money Alert Meet Africa's richest womanbullet
3 Forbes 2018 Africa's billionaires rich listbullet
4 Support Finance minister buys Kantanka carbullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 Plane Crash Starbow suspends operations following plane crashbullet
7 Bozoma Saint John 10 quotes from Uber top official, Bozoma,...bullet
8 Video We are determined to move Ghana beyond aid - Bawumiabullet
9 MTN Mobile Money Adbullet
10 Tech 6 reasons you should buy an iPhone SE instead of...bullet