SG-GHANA LIMITED vs. MAUMESS FAIRPLAY LTD. & 2 OTHERS

The plaintiff (Execution/Creditor) obtained judgment against the defendants for recovery of a debt secured by a mortgage on a property owned by the 2nd Defendant. The Claimant filed a Notice of Claim asserting ownership of the mortgaged property, alleging purchase from the 2nd Defendant prior to the mortgage. The 2nd Defendant had mortgaged the property to the Execution/Creditor after the Claimant's purchase but before legal title was transferred. The Claimant had obtained a prior judgment declaring him owner and ordering transfer of title, which the 2nd Defendant failed to comply with, leading to contempt proceedings and eventual execution of a Deed of Conveyance to the Claimant. The Execution/Creditor contended it had no notice of the Claimant's interest and that its mortgage was valid and registered first.

On June 15, 2016, this Court entered judgment in favour of Plaintiff/Judgment/Debtor, referred to hereinafter as the Execution/Creditor, against the Defendants/Judgment/Debtors in this suit in respect of its reliefs (i) and (ii) as endorsed on its Writ of Summons, that is for: “i. recovery of the sum of GH¢335,611.44 (Three Hundred and Thirty-Five Thousand, Six Hundred and Eleven Ghana Cedis, Forty-four Pesewas), and ii. interest on the said sum of GH¢335,611.44 at the rate of 6% per annum above the prevailing bank rate on compounded basis against the Defendants, or in the alternative, its relief (iii), which was for the judicial sale of the 2nd Defendant/Judgment/Debtor’s property described in the suit as Parcel No. 122, Block 1 Section 030 AR, located at Accra Central, mortgaged in favour of the Execution/Creditor in satisfaction of the judgment debt. Subsequently, on May 3, 2016, this Court, upon application by the Execution/Creditor amended the Judgment to indicate t...