GUARANTY TRUST BANK (GH) LTD vs. CONTINENTAL COMMODITIES TRADING CO. LTD AND OTHERS

This is the first in a Siamese twin like applications for the appointment of a receiver that the applicant has made before the court. This application has been rooted under section 16 of the Mortgages Act, NRCD 96. The applicant seeks for an order for the appointment of John Fiam Coblavie of A. D & Associates as the receiver by collecting rents in respect of a parcel of land situate at the industrial area, Tema which said property was used as security for the loan which defendants have defaulted. The defendant/respondents have opposed the application not because they do not owe the plaintiff/ applicant but on a claim that the applicant gave its word to them that the applicant will not insist on its legal rights to call in the facilities. And flowing from that it had acted on those promises and assurances. Being an application that was fought on affidavit evidence, the learned counsel for applicant sought to cross examine the deponent, Nabil Moukarzel. The court nonetheless refused ...