ADMINISTRATORS FOR & ON BEHALF OF CDL & ANOR (PLAINTIFF) vs. METROPOLIS DEVELOPMENT LTD & ORS (DEFENDANTS)

On the 9th May, 2016, I granted the application for the interim preservation of 34 apartments and reserved my reasons, which I now proceed to give. The plaintiff by this application prayed for the interim preservation of 26 Apartments in Block A and 8 apartments in Block B in the Villagio Vista Condominium situate at East Dzorwulu, Accra. The case of the plaintiff is that it entered into a Master Purchase and Sales Agreement (MPSA) with the 1st defendant. This agreement is dated 31st July, 2009. In the said agreement, the plaintiff contends that, Consolidated Discount Limited (CDL) and CDL Asset Management Ltd (CDL Asset) agreed to purchase 48 apartments in Blocks A,B and C at the Condominium which was to be constructed and known as Villagio Vista Condominium situate at Dzorwulu. The plaintiff further contended that at the time the agreement was executed, construction had not commenced. It is the case of the plaintiff that it was agreed between the parties to the agreement that CD...