Immediate past Managing Director of SIC Insurance Company Limited, Hollistar Duah-Yentumi, has withdrawn her law suit against SIC and the newly appointed SIC boss.
According to sources, this decision follows a high-stakes meeting between key parties involved in the dispute.
There has been an agreement between the parties involved to settle the issue out of court.
As part of this resolution, Hollistar Duah-Yentumi has also withdrawn her lawsuit challenging the appointment of James Agyenim-Boateng as the new Managing Director of SIC Insurance.
The former MD had initially taken legal action against the company and its newly appointed Acting MD, citing unfair termination and disrespect for corporate governance structures.
In her suit, filed on February 4, Duah-Yentumi argued that her appointment was contractually secured for a four-year term, set to expire on January 1, 2028.
She maintained that any changes to her tenure must be approved by the company’s Board of Directors or through a resolution by shareholders at an Annual General Meeting.
With the lawsuit now withdrawn, both parties are expected to finalize their settlement terms outside of the courtroom.
