Supreme Court Rules for Appellant in Cosmo Trading Share Sale Dispute
The Federal Supreme Court has recently ruled in the prolonged commercial dispute surrounding the share sale agreement of Cosmo Trading Pvt. Ltd, favouring appellant Azeb Mihretab, the founder of JJ Property Management. The court upheld the validity of the share-selling agreement that was inked six years ago, involving Haileyesus Mengiste, a major shareholder of Cosmo Trading, and two other shareholders.
At the heart of the disagreement lies the acquisition of 19 shares by JJ Property and Azeb from Haileyesus, priced at 1,000 Br per share, amounting to 19.9 million Br, back in July 2017. The...