[2024]DLCA17847 • April 18, 2024 • Court of Appeal
BANK OF AFRICA (GH) LIMITED vs. MAGNA INTERNATIONAL COMPANY LIMITED
The Plaintiff, Bank of Africa (GH) Limited, instituted two suits against the Defendant, Magna International Company Limited: a Petition for liquidation under the Bodies Corporate Official Liquidations Act, 1963 (Act 180) due to outstanding indebtedness of Gh¢6,661,604.40, and a separate Writ of Summons seeking recovery of the same debt plus interest and legal fees. The Defendant challenged the Writ of Summons on grounds of multiplicity of suits and alleged that the Petition suit was still pending due to a stay of proceedings granted by the Court of Appeal. The Defendant also contended that the Plaintiff's discontinuance of the Petition suit was invalid and that the Plaintiff's counsel lacked a valid practicing license at the time of issuing the Writ.
read moreJUDGMENT GIFTY AGYEI ADDO, JA INTRODUCTION This is an appeal by the Defendant as Appellant against the ruling of the Commercial Court Division of the High Court, Accra. The impugned decision is dated 24th May 2018. For ease of reference, we shall maintain the designation of the parties in the court below, that is, the Plaintiff and Defendant. BACKGROUND On 28th day of March 2017, the Plaintiff as Petitioner in Suit No. MISC/0055/2017, instituted an action under the Bodies Corporate (Official Liquidations) Act, 1963 (Act 180) for the liquidation of the Defendant in the Commercial Court Division of the High Court, Accra, by reason of the Defendant’s failure to retire its indebtedness to it, which indebtedness stood at (Gh¢6,661,604.40) as at 1st October 2016, being the outstanding balance on loan facilities it granted the Defendant. On 31st January 2018, the Plaintiff, subsequent to the above action, commenced another action by a Writ of Summons against the Defendant, as 1st...