High Court fixed July 15 to commence  Dram Oil, Deloitte and Touche trial

Court Update

An Accra High Court has set July 15, 2025, for a trial. The case involves Dram Oil and Trading Limited and Deloitte and Touche.

Dram Oil is seeking $187.596 million from Deloitte. They claim this amount is due to alleged negligence by the audit firm.

In 2018, the court appointed Deloitte to conduct an audit. This was related to a case between Dram Oil and Vihama Energy Limited.

Dram Oil had previously engaged in a transaction with Vihama Energy using Cal Bank Ghana Limited's facility.

According to Dram Oil's statement, they faced a commercial dispute initiated by Cal Bank. This dispute arose from a refined oil transaction involving them, Vihama Energy, and Cal Bank.

Dram Oil won the lawsuit against Cal Bank in 2015. After this victory, Deloitte was appointed to audit payments owed by Vihama Energy.

The court found that Vihama Energy received funds but withheld them from Dram Oil. This withholding caused Dram Oil to default on its obligations to Cal Bank.

Dram Oil claims that the 2015 judgment established that Vihama Energy had been fully paid under their agreement. Therefore, Vihama Energy should not receive any further sums.

This led Vihama Energy to withdraw its counterclaim against Dram Oil.

The High Court's judgment on May 18, 2015, ordered an audit of Vihama Energy’s records and payments.

These orders were specifically about payments received and withheld under their Tripartite Agreement with Cal Bank.

Dram Oil later entered into an agreement with Deloitte for this audit assignment.

However, Deloitte's report concluded that Dram Oil owed money to Vihama Energy instead.

This report was adopted by the court after cross-examination of Mr. Daniel Owusu from Deloitte by lawyers for both parties.