AFRICA AUTOMOBILE LIMITED vs. TEMA OIL REFINERY LIMITED

1.0 Background 1.1 The decision of the court is in furtherance of the decision of the Supreme Court dated 29 June 2011, which varied the decision of the Court of Appeal1, which had earlier on its part varied the decision of the trial Commercial Court dated 12 August 2008. Pursuant to the Supreme Court’s decision, the plaintiff judgment execution creditor revised the entry of judgment. The amount payable as interest 1 Dated 11 March 2010 accruable on the principal sum and other reliefs the court granted has the bone of contention between the parties. 1.2 In furtherance of the entry of judgment, the parties had come up with differing amounts as interest due and payable over the period. Whilst defendant judgment debtor in its computation arrived at a figure of GHc6,764,974.73 as net sum amount due plaintiff judgment creditor as at 30 May 2016, plaintiff judgment creditor on its part came up with a threefold figure of GHc19,470,051.20 as at 31 June 2016. See Exhibits ‘PKE 2’ an...