A legal dispute over the ownership of financial services company Bills Micro-Credit Ltd, formerly Quick Credit and Investment Money Lending Ltd, has resurfaced in an Accra High Court, with new documentary evidence and court filings challenging public claims about the firm’s origins.

Court records filed by Joana Quaye in support of an application for an interlocutory injunction indicate that she was listed as a “first shareholder” when the company was incorporated in December 2011, holding 100,000 shares, while her then husband, businessman Richard Nii Armah Quaye held 900,000 shares.

The documents, attached to filings obtained from the Office of the Registrar of Companies, are at the centre of an ongoing divorce and property settlement dispute between the former couple.

The filings contradict earlier public statements attributed to Richard Quaye, who suggested on a televised interview that his ex-wife had no involvement in the establishment of his business empire.

According to the court documents, the original share structure of the company has become a key issue in Joana Quaye’s appeal against a High Court ruling in the long-running matrimonial case.

During cross-examination cited in the filings, Richard Quaye reportedly acknowledged that Joana Quaye held a 10% stake in the company but described her inclusion as a “formality” linked to regulatory requirements.

He also stated in court that she was later removed as a director, arguing that regulatory standards required specific academic qualifications for such roles.

Joana Quaye, however, alleges in her affidavit that she was gradually removed from both the shareholding structure and directorship without her knowledge, claiming alterations were made to company records years after incorporation.

Her legal team further argues that the company was jointly built through shared financial contributions dating back to the early stages of their relationship, including investments and savings used to support the establishment of the business.

The case also revisits earlier High Court proceedings in which the judge awarded Joana Quaye a financial settlement and a partial share in a property, but did not rule on broader ownership claims related to the company.

Her lawyers have filed an appeal, describing the ruling as inequitable and inconsistent with evidence they say shows her foundational role in the business.

They are also seeking an injunction to prevent the disposal of assets linked to the company, including properties and luxury vehicles, pending the outcome of the appeal.

The dispute continues as higher courts are expected to determine the extent of each party’s ownership in what has become a high-value corporate and matrimonial battle.