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Court injunction restores full powers for Marcus James as Access CEO

Published:Friday | July 25, 2014 | 6:22 PM

The Supreme Court has granted an injunction restoring full powers to Marcus James as CEO of Access Financial.

The injunction also provides that James should not be harassed in any way by the directors of the company, and imposes a standstill agreement restricting the sale of shares until the matter is heard.

The legal battle was initiated by James against the Mayberry-connected directors on Access' board, namely chairman, Brian Goldson; Gary Peart; and Chris Berry, as well as the second-largest shareholder, Mayberry West Indies Limited.

James turned to the courts in early April to stop the Access Financial board from ousting him as CEO.

Later, wrangling between the parties led at one stage to the board stripping James of his responsibilities as CEO, but not his title, and conferring those powers onto another board member.

The co-CEO appointment was rescinded on intervention by the court, but the Access board then conferred the powers of CEO onto itself.

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Jamaica Gleaner