[2015]DLCA8399 • October 22, 2015 • Court of Appeal
ABIVAMS LIMTED vs. PLATON GAS OIL LIMITED
The Appellant, beneficiary of proceeds under a Sale and Purchase Agreement (SPA) for crude oil supply between Omaroil Agency Limited (seller) and the Respondent (buyer), claimed payment of outstanding sums due under the contract. The Respondent had paid part of the amount to the Appellant's account but defaulted on the balance. The parties executed a Memorandum of Understanding (MOU) acknowledging the debt and agreeing on payment installments with interest. The Appellant sought summary judgment for recovery of the balance, which was refused by the High Court on grounds of triable issues regarding assignment and payment priority.
read moreTANKO AMADU J.A (1) This appeal is from the ruling of the High Court (Fast Track Division) Accra dated 16th February, 2015 wherein the Plaintiff/Appellant’s application for summary judgment was refused. (2) In the High Court (Fast Track Division) Accra, the Plaintiff/ Appellant (hereinafter referred to as “the Appellant”) claimed against the Defendant/Respondent ( hereinafter referred to as “the Respondent”) the following reliefs:- “(a) An order for the recovery of the sum of U$D522,101.00 or its equivalent in Ghana Cedis at the prevailing Commercial rate of exchange. (b) Interest of 10% per annum on the said amount from 5th December 2014 till date of final payment. (c) General Damages for breach of contract. (d) Costs assessed at 10% of the amount owed including solicitors fees. (e) Any further order(s) that this Honourable would deem fit” (3) In a nutshell, the case of the Appellant is that by a con...