KOJACH PHARMA LTD. & 2 ORS vs. HFC BANK (GHANA) LTD.

ADJEI,J.A: The Defendants/Appellants dissatisfied with the ruling delivered by the High Court on 26th February, 2018 dismissing their application for an upward review of the reserved price fixed by the High Court on 4th September, 2015 filed an appeal against same to this Court on 14th March, 2018. The background to the appeal were that the Plaintiff sued the Defendants in the High Court to recover the total facility it granted to the Defendants which they have refused to pay. The parties settled the matter and filed a terms of settlement to that effect. The terms of settlement filed on 30th September, 2014 was to be entered as a consent judgement by the trial High Court. The trial High Court on 30th September, 2014 entered the terms of settlement filed as a consent judgement. By the consent judgement the Defendants were to pay an amount of GH¢3,500,000.00 to the Plaintiff and the amount was to be paid in six equal quarterly installments from 30th September, 2014. There was a defaul....