Ghanaian company Dram Oil & Trading Limited (Dram) is pursuing a lawsuit against Deloitte & Touche Ghana (Deloitte Ghana). Dram alleges serious misconduct by a partner at Deloitte Ghana. This conduct allegedly caused the company substantial and ongoing financial losses. The case is currently being heard at the Accra Commercial Division of the High Court.
The dispute has significant international implications. Information reviewed by English solicitors indicates potential legal action in the United Kingdom. This is due to connections with a UK-based financial counterparty linked to the core of the dispute. Mr Nigel Heilpern, a lawyer for Dram, stated there is a credible basis for claims against UK Deloitte entities. These claims could follow the conclusion of the Ghanaian legal proceedings.
The broader context involves questions of vicarious liability. Dram suggests accountability may extend up the Deloitte network's chain of command. This includes alleged operational control by Deloitte South Africa over Deloitte Ghana. It also points to oversight by Deloitte UK on regional operations and standards. Deloitte's own Global Principles of Business Conduct highlight common professional standards across its member firms.
Dram Oil pointed to a 2009 US court ruling in the Parmalat Securities Litigation. This case also involved Deloitte and is part of Dram's legal arguments. Dram has stated it reserves all rights to pursue proceedings in England and Wales. It may also seek recovery in other appropriate jurisdictions. The implications for UK-based Deloitte entities are under active legal review.
Dram Oil says it is committed to seeing the proceedings through. The company seeks accountability for its claimed losses. It has rejected settlement offers that do not address accountability. The specific allegations involve a court-ordered audit engagement. Ghana Police Service is also reviewing related matters.
Deloitte Ghana has reportedly offered to resolve the dispute. However, their terms included discontinuing all proceedings. It also required abandoning present and future claims internationally. Dram Oil has refused these terms. The company believes the issues require full judicial determination. This includes resolving the wider cross-border dimensions of the case.