Hearing of Dram Oil's $187 million negligence suit against Deloitte set for July 15

An Accra High Court, Commercial Division, has scheduled the trial to begin on July 15, 2025, in a case where Dram Oil and Trading Limited, an oil trading company, is suing the global audit firm, Deloitte and Touche, for alleged negligence. 

The plaintiff is seeking a court order for the payment of $187.596 million, along with other claims, in relation to the audit firm's alleged mishandling of an audit assignment.

The dispute stems from a case in which Deloitte and Touche was appointed in 2018 by the Accra High Court to conduct an audit in a matter involving Dram Oil and a Bulk Oil Distribution Company, Vihama Energy Limited. The dispute arose from an oil transaction between Dram Oil, Vihama Energy, and Cal Bank Ghana Limited, which provided financing for the deal.

Dram Oil claims that despite winning a legal case against Cal Bank in 2015 regarding the oil transaction, the audit report produced by Deloitte and Touche concluded that the company owed significant sums of money to Vihama Energy. The plaintiff contends that Deloitte's audit report was flawed and led to incorrect conclusions that have caused financial harm. The report was later presented in court after Deloitte's partner overseeing the audit, Mr. Daniel Owusu, was cross-examined by the parties involved in the dispute.