G. BRANDS IMPEX LTD. vs. BANK OF GHANA

ANIM, J.A. The Defendant/Appellant hereinafter referred to as “The Defendant” has appealed to this Court requesting that the judgment of the High Court, Accra, presided over by His Lordship Justice Victor Ofoe, delivered on 29th June 2000, be set aside. By its Writ of Summons and Statement of Claim issued on 14th April 2000, the Plaintiff/Respondent hereinafter referred to as “The Plaintiff” claimed against the Defendants:— [a] Recovery of the amount of US$1.4 million wrongfully deducted by Defendants from payment due to the Plaintiff or its cedi equivalent at the US dollar Forex bureau buying rate on the day of payment. [b] Interest on the cedi equivalent of the US$1.4 million at the prevailing commercial banks lending rate from October, 1996 to the date of payment of the principal sum or in the alternative anticipated profits. [c] Costs of the action including counsel’s costs. The case of the Plaintiff is that some years ago the Government of the Republic of G...