INVESTPRO LIMITED vs. NTHC LIMITED

Against the backdrop of a summary judgment regularly obtained by the Plaintiffs against the NTHC Limited, the defendants/applicants herein have brought this instant application for stay of execution and to set aside the said judgment and for leave to admit the late Statement of Defence filed by their lawyers, Davies & Davis. On record, this court on November 16, 2009 did enter a summary judgment in favour of the plaintiffs/ respondents for the reliefs endorsed on their writ. These were: a) the recovery of the sum of Gh¢138,379.72 being the agreed 30% of Gh¢461,265.74 received by the defendant on or about 16 December 2008 for its role as transaction advisors to the privatization of Western Telesystems Ltd; b) interest on the amount above at the prevailing bank rate from 22 December, 2008 to date of final payment, and c) costs including lawyer’s fees. The premise upon which the instant application has been brought is essentially that the inability of the defendants/applicants...