PANAFRICAN EQUIPMENT GHANA LTD vs. ESM COMPANY LTD AND EBENEZER Y. SARPONG

RULING The Plaintiff/Applicant herein filed the instant application with a 28 paragraph Affidavit in support dated 18th August 2023 praying for Summary Judgment against the Defendants/Respondents in respect of the following reliefs: a. An order for the recovery of USD 176,714 being the total outstanding amount owed by the Defendants to the Plaintiff. b. Interest on the sum of USD 176,714 at the contractually agreed interest rate of 15% per annum from 31 January 2023 until the date of final payment. c. Costs (including lawyers fees) and d. Any other reliefs that this honourable Court considers just. It is the case of the Plaintiff/Applicant (hereinafter called ‘Applicant’) that Respondents debt arose as a result of an Equipment Finance Agreement dated 5 July 2020 (the ‘Finance Agreement’) by which Applicant granted a loan of USD 252,350 to the 1st Respondent for the purpose of purchasing a Komatsu GD655-5 Motor Grader (the ‘Grader’). That under the Finance agreemen...