ENERGIE REFERENCE LTD (PLAINTIFF) vs. ECOBANK GHANA LTD (DEFENDANT)

The plaintiff, a customer of the defendant bank’s Ashaiman Branch, sought a bid guarantee in connection with a tender to supply fuel oil to SNPT in Togo. The defendant initially requested a 25% cash cover, and GH¢91,125.00 was transferred from Petrocell’s account into the plaintiff’s account for that purpose. The defendant later demanded 100% cash cover for a foreign-currency bond, so the plaintiff turned to Access Bank, issued a cheque on its account with the defendant for the same GH¢91,125.00, and Access Bank presented it through express clearing. Before presentation, the defendant transferred the funds from the plaintiff’s account back into Petrocell’s account to cure an overdraft created when Petrocell’s cheque for GH¢126,631.82 had been honoured. The plaintiff alleged that this unauthorized transfer caused wrongful dishonour of its cheque and loss of business opportunity. Portion of judgment: opening facts and pleadings beginning “On the 15th April, 2015, the Plaintiff commenced the present action…” through the narration of the transfer, dishonour, and alleged loss.