Court orders Adamus Australia to pay $50,000 security costs

 THE Commercial Division of the High Court in Accra, presided over by Justice Doris Daban­ka Awuah-Bekoe, has ordered Adamus Resources (Pty) Limited, an Australian company affiliat­ed with Mr Paul List, to pay the cedi equivalent of US$50,000 as security for costs in a legal action it initiated in Ghana.

The amount, to be paid within 21 days, will cover costs likely to be incurred by Adamus Resources Ghana Limited, its Chief Execu­tive Officer, Ms Angela List, and Nguvu Mining Limited.

The court further stayed proceedings until evidence of payment is filed.

The dispute stems from Ada­mus Australia’s challenge to the acquisition of 90 per cent shares in Adamus Ghana by Nguvu Mining, owned by Ms List. In February 2025, Adamus Australia filed a suit seeking to set aside the transfer.

The defendants, represented by Dame and Partners, dismissed the claims as baseless, arguing that the acquisition had been duly registered by the Companies Registry, validated by the Minerals Commission, and approved by the Minister for Lands and Natural Resources.

Moreover, they questioned the legal capacity of Adamus Aus­tralia to institute the action and applied for security for the costs. Moving the application, Mr God­fred Yeboah Dame argued that Adamus Australia had no regis­tration, assets, or office in Ghana, making enforcement of any cost orders difficult.

He cited Section 200 of the Companies Act, 2019 (Act 992), which requires foreign plaintiffs to provide security.

Counsel for Adamus Australia, Minkah-Premo and Co, opposed the application, claiming the dis­puted shares amounted to money owed.

Justice Awuah-Bekoe rejected the argument, ruling that own­ership of the shares remained unresolved, and upheld the defen­dants’ application for security for costs.

 By Malik Sullemana

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