WEALTH MANAGEMENT COMPANY LTD. vs. SIC FINANCIAL SERVICES LTD.

AYEBI, JA 1. This is an appeal against the ruling of an Accra High Court which set aside the defendant/appellant’s statement of defence because in the said statement of defence, defendant/appellant in addition to the plaintiff/respondent, without leave of the court, counter-claimed against two other persons who were not parties to the suit originally. The issue to be resolved in the appeal therefore is when and how Order 12 rule 5 on counter-claim against additional parties vis-à-vis Order 4 rule 5(2) on Joinder of Parties in the High Court (Civil Procedure) Rules, 2004 (C.I. 47) should be invoked. 2. The plaintiff averred that she is in the business of investment banking. By separate investment agreements, she placed various sums of money for investment with the defendant. Although the investments have since matured, the defendant has failed to pay the principal and the agreed interest thereon despite repeated demands. Per the writ of summons, plaintiff claimed against the def...