High Court Injunction Restrains Sale of Standard Chartered Bank

Earlier this week, the High Court of Sierra Leone issued a landmark ruling in a dispute between Standard Chartered Bank (the defendant) and two others (former employees of the plaintiff bank).

Judgment in favor of plaintiff (former employee) was pronounced by Judge Leonard Taylor. He adamantly forestalled the management of Standard, his chartered bank, from selling the bank.

The judge strongly orders the bank’s management not to sell the bank or company without the consent of the court’s order, and better inform the court on this matter.

Remember, in 2022, two former Standard Chartered Bank employees took the bank to court for unfair dismissal, abuse, and discrediting of their professional standing and credibility.

Attorneys for two former workers (plaintiffs) sued the bank in court on behalf of their client, asking that the court issue an injunction against the bank’s management to prevent it from proceeding with the sale of the bank.

Counsel has also urged the court to forestall the move the bank’s management is about to take. Counsel further revealed that he had received information that the bank’s management was planning to suspend operations in the country and leave without resolving the matter. They have many issues with both past and present staff.

Because of this fact, the plaintiff’s attorney also prayed that the court would restrict the sale of the bank until the client provided a guarantee that could cover their claims if they were successful in substantive litigation in court.

During more than a year of court debate, the parent company (Standard Chartered) has agreed to pay a total of US$1,200,000 to accounts maintained by the parties’ attorneys until the case is heard, as ordered by the court. . And solved.

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