The Commercial Division of the High Court in Accra has dismissed an application for an interlocutory injunction filed by Australian-based Adamus Resources (PTY) Limited in its legal dispute with Angela List and Nguvu Mining Limited over the ownership of 90 percent shares in Adamus Resources Limited (Adamus Ghana).

The court, presided over by Justice Doris Dabanka Awuah-Bekoe, ruled that the Australian company had failed to satisfy the conditions required for the grant of an interlocutory injunction.

The application sought to restrain Angela List, Nguvu Mining Limited and Adamus Ghana, as well as their agents and assigns, from transferring, disposing of or mortgaging the disputed shares pending the determination of the substantive case.

Adamus Australia filed the suit in February 2025, claiming ownership of the 90 per cent shares in Adamus Ghana and asking the court to set aside their acquisition by Nguvu Mining Limited.

The ruling in a statement dated November 5, 2026, said the company argued that although it was registered as the 90 per cent shareholder of Adamus Ghana until November 2022, the shares were transferred to Nguvu Mining Limited without the consent of its board of directors.

Through its lawyers, Minkah Premo, Osei-Bonsu and Co, Adamus Australia argued that the deed of transfer should have been signed by its director, Alan Morrison, rather than its shareholder or a person authorised by the shareholder.

It therefore described the transaction as fraudulent and urged the court to restrain the defendants from dealing with the shares.

However, Angela List, Nguvu Mining Limited and Adamus Ghana, represented by Dame & Partners, opposed the application, describing the action as frivolous, vexatious and brought in bad faith.

The defendants argued that Adamus Australia had failed to establish the legal requirements for an interlocutory injunction and had concealed material facts from the court.

They maintained that Angela List was the ultimate beneficial owner of the companies involved in the transaction and that the November 2022 transfer formed part of a business reorganisation involving entities under her ownership.

The defendants also presented documents indicating that Moses Bosompem, who executed the deed of transfer on behalf of Adamus Australia, was a duly appointed director of the company at the time.

They further argued that the Office of the Registrar of Companies and the Minerals Commission had been satisfied with the documents supporting the change in ownership and control.

The defendants also challenged Alan Morrison's capacity to institute the action on behalf of Adamus Australia, arguing that he was neither a shareholder nor authorised by a valid company resolution to commence the proceedings.

In addressing the issue, the court questioned whether Morrison, as a director, had any legal or beneficial interest in the company and whether he could independently institute the action.

“The question is, as a director, has he got any legal or beneficial interest in the company. Again, can he alone as a director bring the suit against the Defendants. The Defendants challenge this position and even to the extent that by the Companies Act of Australia, a sole director cannot embark on such a mission,” the court stated.

The court subsequently concluded that the conditions required for the grant of an interlocutory injunction had not been met.

“The Court is of the opinion that the conditions precedent for the grant of interlocutory injunction have not been met by the Applicant. Consequently, the Court finds the Application meritless and hereby dismisses same,” the ruling stated.

The latest decision represents another setback for Adamus Australia and its sole director, Alan Morrison, in their efforts to challenge Nguvu Mining Limited's acquisition of the 90 per cent shares in Adamus Ghana.

In an earlier ruling delivered on July 30, 2025, the Commercial Court ordered Adamus Australia to pay the cedi equivalent of US$50,000 as security for legal costs to be incurred by Adamus Ghana, Angela List and Nguvu Mining Limited.

The court also stayed proceedings in the substantive suit until the Australian company paid the amount and provided evidence of payment.

The latest ruling leaves the substantive ownership dispute unresolved, with the next legal move by Adamus Australia and the parties challenging the share transfer yet to be determined.

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