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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.

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Kweku Bedu-Addo, CEO of Standard Chartered bank play

Kweku Bedu-Addo, CEO of Standard Chartered bank

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.

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