IFS FINANCIAL SERVICES LTD. vs. LYDIEKUFF LIMITED AND LYDIA OHENE- KENA

This application is a request by the plaintiff/judgment creditor/applicant for an order to vary or review the reserve price fixed by this Court on 22nd August, 2017 in respect of the defendant/judgment debtor/respondent’s property which was attached in execution of this Court’s judgment delivered on 31st March, 2017. The reason of the plaintiff for this request is that the auctioneer has not been successful in selling the attached property despite several attempts to do so. Attached to the plaintiff’s application are 3 exhibits. Exhibit ‘A’ is the order of this Court dated 22nd August, 2017 in which the reserve price for the attached property was fixed at GH₵990,000.00, Exhibit ‘B’ series are copies of adverts that were placed in the Ghanaian Times Newspaper and Exhibit ‘C’ is a copy of the auctioneer’s affidavit disclosing the fact that he had not been able to sell the attached property due to the fact that the offers he received were far below the reserve price...