The High Court in Accra has been hearing a divorce and matrimonial case between Joana Quaye and her businessman ex-husband, Richard Nii Armah Quaye, with key claims emerging during the cross-examination of the respondent.

The hearing took place on March 13, 2024, at the Divorce and Matrimonial Court “2” of the High Court of Justice in Accra, before Justice Justin Kofi Dorgu.

Court documents available to GhanaWeb have exposed explosive details from the divorce suit between Joana Quaye and Richard Nii Armah Quaye, including allegations of forgery and the alleged secret removal of the wife’s name from the directorship, which surfaced during his cross-examination.

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Below are key revelations from the cross-examination.

1. Directors of Quick Credit

During the cross-examination, RNAQ admitted that both he and Joana Quaye were listed as the first directors of Quick Credit when the company was incorporated as a limited liability company in 2011.

Although he claimed Joana Quaye was later removed after the Bank of Ghana requested educational qualifications for directors of financial institutions, documents presented in court appeared to contradict that position.

“Yes, her name was on the document, including myself as the initial directors of the company…,” he said.

Counsel for the petitioner subsequently presented records from the Registrar General’s Department showing that Joana Quaye’s name still appeared among the company’s directors years after incorporation.

One of the documents, dated August 11, 2021, listed Richard Quaye, Joana Quaye, Abigail Quartey, Romeo Seshie, and Emmanuel Lamptey as directors of the company.

The petitioner’s counsel argued that the document showed Joana Quaye remained a director of Quick Credit for about 10 years after the company’s incorporation, contrary to claims that she had been removed shortly after registration.

2. Shareholding

Another major issue that emerged during proceedings was the ownership structure of Quick Credit and whether Joana Quaye genuinely held shares in the company during its early years. Documents presented in court appeared to challenge claims that she had no real ownership interest in the business.

During cross-examination, RNAQ admitted that Joana Quaye’s name was included in the company’s registration when Quick Credit was converted from a sole proprietorship into a limited liability company.

According to him, the arrangement was made because the Bank of Ghana did not permit a single individual to hold 100 per cent ownership in a financial institution at the time.

“It was a requirement by the Bank of Ghana that a single individual cannot own 100% stake in a financial institution, so as a formality, we agreed to put her name for the initial registration…,” he told the court.

However, counsel for the petitioner challenged that explanation and presented company records from the Registrar General’s Department, which appeared to show that Joana Quaye continued to hold shares in the company years after incorporation.

One of the documents referenced in court, dated August 30, 2017, reportedly detailed the company's share allotments and listed Joana Quaye and Richard Quaye as shareholders.

According to the records presented in court, Joana Quaye was allocated 100,000 shares while Richard Quaye held 2.9 million shares under a section titled “new shares allotment.” Counsel for the petitioner argued that the records contradicted claims that Joana Quaye never had a real ownership interest in the company.

3. Forgery and alleged removal

After documents presented in court appeared to show that Joana Quaye continued to hold shares in Quick Credit years after its incorporation, her lawyer accused RNAQ of unlawfully altering her stake in the company.

Counsel for the petitioner argued that changes to her shareholding were made without the involvement of any third-party investor, contrary to explanations given by RNAQ during proceedings.

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“I put it to you that during the long period that the Petitioner was a shareholder or a member of Quick Credit her shareholding was altered without the introduction of any third-party whatsoever,” counsel said during proceedings.

The petitioner’s side further alleged that signatures on share transfer documents filed at the Registrar General’s Department may have been forged in order to remove Joana Quaye’s interest in the company.

MAG/SEA

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