AGYEI vs. AMEGBE

JUDGMENT OF BROBBEY J. This is a ruling on an application by the defendant-applicant (hereinafter referred to as the applicant) for payment by instalments of a judgment debt. The undisputed facts leading to the application are as follows: The plaintiff-respondent instituted an action for recovery of some moneys together with earned interest. During the pendency of the suit, the substantive debt was paid in 1986. The case proceeded on the question of interest payable until judgment was awarded the plaintiff in 1987 in respect of the interest. The plaintiff then applied for judgment after trial in which interest was computed at the rate of 26 per cent which was the prevailing rate of interest in 1987 when the case was concluded. The applicant however contended that the interest should be paid at the rate of 23 per cent which was the prevailing rate of interest in 1986 when the debt was fully paid. In arguing the case for the plaintiff-respondent, his counsel, Miss. Akuffo, con...