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The Finn Flower Africa PV, a Dutch based private
company, has appealed to the Federal First Instant
Court not to lift the suspension imposed on the ET
Highland Flora’s bank account and on the owner’s
right to sell or transfer it to a third party.
Last Monday, June 22, 2009, the plaintiff responded
against the defendant’s application to lift the
court’s suspension on the company, explaining the
problems that the company may face if the previous
ruling of the court is overturned.
On May 25, 2009, The Finn Flower had asked the court
to suspend ET Highland’s bank accounts and its
owners’ rights to sell and transfer ownership of the
local company to a third party. It also requested
the details of ET Highland’s bank account to be
disclosed for the court and the plaintiff.
The Fifth Civil Bench of the Court passed the
suspension on May 26.
However, Tsegaye Abebe, general manager of ET
Highland Flora and Chairman of the Ethiopian
Horticulture Producers and Exporters Association,
presented its explanation against the suspension
request.
The defendant urged the court to lift the
suspension because its produces are perishable and,
they claimed, they would experience heavy losses
from the suspension.
The Netherlands based Finn Flower Africa PV, which
holds a 50pc share of ET Highland Flora, filed the
charge against Tsegaye on May 12, 2009. The charge
alleges that the defendant neglected the plaintiff’s
rights by using an unlimited power of his authority
in the company. For example, Flora claimed, Tsegaye
took a loan for his personal purposes using the
company’s property as collateral and refused to
notify the inventory and balance sheet of the
company are some of the counts the General Manager
of ET Highland Flora is called to the Court for.
The plaintiffs also alleged that though they
requested Tsegaye to call for the general assembly
to discuss on some agendas, he was unwilling.
The lawyer representing the Finn Flower has
requested the court to rule for the end of the
defendant’s authority in the company, and to order
for conducting of auditing of the company’s life
time financial report by independent auditor
authorized by the company’s shareholders.
The Federal First Instance Court has adjourned the
case to June 29, 2009.
Last month, two foreign directors from Finn Flower
Africa PV, Elkuizen Constantus Maria and Elkuizen
P.Q. Maria, were sued by a prominent businesswomen,
Mekia Sikessa, in Federal High Court; the
businesswoman had claimed compensation worth 300
million Br from the two compatriots who allegedly
provided faulty consultancy services to her
agricultural business.
The litigation ended after the court decided Mekia
should pay the court fees before the case was opened
after she had applied to be allowed to open the case
through forma pauperis, without paying the
court fees.
ET Highland Flora Plc was established in June 2004,
with capital of 11.7 million Br. The company
produces cut flowers at Sebeta, which is 24km
southwest of Addis Abeba, in Oromia Regional State,
on the place called Dima. The Dutch based
Finn Flower Africa PV and the local Blue Nile Flora
Plc own the company with 50pc share each.
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