The Commercial Division of the High Court in Accra, presided over by Justice Doris Dabanka Awuah-Bekoe, has dismissed an application for an interlocutory injunction filed by Adamus Resources (PTY) Limited, an Australian-based company affiliated with Mr. Paul List. The company had sought to restrain Ms. Angela List, Nguvu Mining Limited, and Adamus Resources Limited (Adamus Ghana) from transferring 90% shares allegedly held by the Australian company in Adamus Ghana.
In February 2025, Adamus Australia, at the direction of Alan Morrison, a known surrogate of Mr. Paul List, filed a suit claiming ownership of the said 90% shares in Adamus Ghana Limited and prayed the court to set aside the acquisition of those shares by Nguvu Mining Limited. The Australian-based company argued that the transfer of shares was fraudulent and should be set aside by the court.
The defendants, Ms. Angela List, Nguvu Mining Limited, and Adamus Ghana, contended that the entire action was frivolous, vexatious, and in complete bad faith. They asserted that Adamus Australia and Alan Morrison had concealed material facts from the court and that Ms. Angela List is the ultimate beneficial owner of Nguvu Holdings Limited, Nguvu Mining Limited, Adamus Australia, and Adamus Ghana.
The defendants exhibited documents showing that the person who executed the deed of transfer on behalf of Adamus Australia, Moses Bosompem, was a duly appointed director of Adamus Australia at the time. The Office of the Registrar of Companies and the Minerals Commission, and the Minister for Lands and Natural Resources, exercised their powers in accordance with law to issue a "no objection" to the change of control of Adamus Ghana.
The High Court, in its ruling on the question of the capacity of Alan Morrison to authorise the institution of an action by Adamus Australia, held that a sole director cannot embark on such a mission. The court found that the conditions precedent for the grant of interlocutory injunction had not been met by the Applicant and consequently dismissed the application.
The ruling represents another big blow to the Australian-based company, its sole director, Alan Morrison, and Mr. Paul List, who have been engaged in a running battle to challenge the acquisition of 90% shares of Adamus Resources Ghana Limited by Nguvu Mining Limited owned by Ms. Angela List. In an earlier ruling delivered on July 30, 2025, the Commercial Court ordered Adamus Australia to pay within 21 days the Cedi equivalent of Fifty Thousand United States Dollars (US$50,000), as security for legal costs.
It remains to be seen what the next move of Mr. Paul List and Alan Morrison will be. The court's decision has significant implications for the mining industry in Ghana, and stakeholders are watching closely to see how the situation unfolds. The case highlights the complexities of corporate ownership and control in the country.
Key points
- The Ghanaian court dismissed Adamus Australia's injunction application against Nguvu Mining and Adamus Ghana.
- The court ruled that the conditions precedent for the grant of interlocutory injunction had not been met by the Applicant.
- The case has significant implications for the mining industry in Ghana, with stakeholders watching closely to see how the situation unfolds.
