Crabbe has challenged the constitutionality of the Albert Botchway-led Board and accused the government of deliberately running down the company in order to sell it over to cronies.

He told host of Joy FM's Business Trends Kojo Oppong-Nkrumah the Board has no locus to be taking the decisions it is taking.

“We have an operating agreement and it shows exactly how members of the board are appointed from both sides, ie. the government side and GIA-USA side.

“The members who have been appointed were appointed without due process. I don't think they have the power and authority to sit there and make the decisions they are making,” he slammed.

He said nowhere in the shareholders agreement is the Board empowered to get rid of the management.

The Government owns seventy per cent shares whilst GIA-USA of which Sammy Crabbe is a member, owns thirty per cent of the shares.

Sammy Crabbe hinted that the minority shareholders will be heading to the Hague to seek reliefs against the government for what they say is a breach of the shareholders agreement. That he says is to send a warning to future governments who are bent on stifling such international agreements.

Story by Nathan Gadugah/Myjoyonline.com/Ghana