TERRA-S LIMITED vs. SHAMPEX LIMITED AND TUFFICK SHAMS

Plaintiff Terras Limited entered into a Memorandum of Agreement (MOA) dated 30 October 2012 with Shampex Limited (1st Defendant) and its Managing Director, Tuffick Shams (2nd Defendant), for a 50% interest in a quarry at Shai Hills. The agreement was based on defendants' representation that the 1st Defendant held a 50-year leasehold interest with an option to renew for 25 years and that the total indebtedness to Barclays Bank was GH¢1,607,620.06. Plaintiff paid US$450,000 to settle the debt and for consideration. Later, plaintiff discovered that the 1st Defendant only had a 10-year sublease due to expire in 2016, not the 50-year leasehold represented. Plaintiff suspended payments and was subsequently locked out of the quarry by defendants, who also allegedly harassed plaintiff's personnel through police involvement.

1 Background Pursuant to leave of the court, plaintiff on 12 March 2014 amended the suit it had earlier by writ of summons commenced against defendants jointly and severally for the following reliefs: (i)a An order directed at the Defendants to deliver the Quarry situate at Shai Hills to the plaintiff as per the agreed terms of the contract dated October 30, 2012 which specifically states a term of fifty years. OR IN THE ALTERNATIVE (b) Refund of the amount of US$450,000.00 which the Plaintiff has so far paid to and on behalf of the Defendants in pursuance of the agreement. (c) Interest on the amount of US$450,000.00 at the prevailing bank rate from 31st October 2012 to date of final payment. (d) Damages for breach of contract. (i) An order directed at the defendants restraining them from harassing and/or intimidating the plaintiff’s personnel and representatives with the Police or any other person or institution. (ii) General damages for maliciously harassing the plai.....