ECOBANK GHANA LIMITED vs. AKOSOMBO TESTILES LIMITED

Against the backdrop of a post judgment Terms of Settlement filed with the Court on November 28, 2016 and subsequently adopted and entered by the Court as Consent Judgment of the parties herein on November 29, 2017, the Plaintiff/Applicant (hereinafter, the “Applicant”) has filed an application praying for leave to levy execution upon the said Consent Judgment against the Defendant/Respondent (hereinafter, the “Respondent”). The Terms of Settlement is attached to Applicant’s affidavit in support of the motion and is marked as Exhibit “EBM1”. The claim of the Applicant, as can be gathered from the affidavit evidence and the evidence on the record, is to the effect that as at February 28, 2015, the Respondent owed it and other Banks, that is, GCB Bank Ltd., Universal Merchant Bank Ltd., and Standard Chartered Bank Ltd., (hereinafter, the “Claimant Banks”) the sum of Thirty-three Million, Three Hundred and Ninety-two Thousand, Eight Hundred and Ninety-one Ghana Cedi...