KRISPOL ESTATES LIMITED vs. CHRISTOPHER KOBINA SAMPSON

The Plaintiff, Krispol Estates Limited, a company engaged in estate development, entered into an agreement with the Defendant, Christopher Kobina Sampson, who held a 30% equity stake and was Managing Director. The agreement entailed the Defendant providing land at Kasoa Odupongkpehe as consideration for his shares, while the Plaintiff, represented by Executive Chairman Stefano Pol, would finance construction of housing estates. The Defendant made a statutory declaration promising to assign the land to the Plaintiff, who proceeded with construction investing over two million USD. The Defendant failed to execute the deed of assignment, hindering the Plaintiff's ability to dispose of the houses as beneficial owner. The Defendant did not contest the case or file witness statements.

JUDGMENT The Plaintiff issued its Writ of Summons per its Amended Statement of Claim claiming against the Defendant as follows:- a) The Defendant be ordered to assign his title to the lands at Kasoa Odupongkpehe on which the houses have been constructed to the 1st Plaintiff as per his Statutory Declaration made the 19th of November 2001. b) Specific performance of the said contract. c) Further in the alternative, the Defendant should forfeit his 30% equity stake in the 1st Plaintiff in favour of the 2nd Plaintiff on a finding that he not own the land aforesaid which was the material inducement for the share allotment. d) An order directed at the Defendant to account for all monies he has received from Stefano Pol, the 2nd Plaintiff, and any other sources for the estate development project and their application in the name of the 1st Plaintiff. e) General Damages or such other reliefs as the Court may deem fit. f) Cost, including Solicitors fees. The Defendant al...