NOVA COMPLEX LTD vs. GHANA PORTS AND HARBOUR AUTHORITY AND CAPTAIN ZEIM [2008]DLCA6588

Date	2008-06-12
Suit No.	CIVIL APPEAL H1/17/08
Citation No.	[2008]DLCA6588

OWUSU (M/S) J.A. PRESIDING

KANYOKE J.A.

KUSI-APPIAH J.A

[2008]DLCA6588
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													<main id="main" class="content" style="min-height: 60rem" >NOVA COMPLEX
LTD<o:p></o:p>(PLAINTIFF/APPELLANT)<o:p></o:p>vs.<o:p></o:p>GHANA PORTS
AND HARBOUR AUTHORITY AND CAPTAIN ZEIM<o:p></o:p>(DEFENDANTS/RESPONDENTS)<o:p></o:p><o:p>&nbsp;</o:p>[COURT OF APPEAL, ACCRA]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt;
text-align:center;line-height:115%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">CIVIL
APPEAL H1/17/08&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;DATE: 12TH
JUNE, 2008<o:p></o:p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
115%;mso-outline-level:1;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">OWUSU (M/S) J.A. PRESIDING
KANYOKE J.A. AND KUSI-APPIAH J.A.<o:p></o:p>

</div><o:p>&nbsp;</o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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</div>KUSI-APPIAH,
J.A. <o:p></o:p>The
plaintiff/appellant (hereinafter simply referred to as the plaintiff) has had
to travel down to the High Court from the Supreme Court through the Court of
Appeal. <o:p></o:p>I
believe that the plaintiff’s ascend to this court, the second time, was much
influenced by what His Lordship Justice Aseidu said or directed in his opinion
in the High Court, Accra on 31st July, 2007 at page 21 of the record:- <o:p></o:p>‘It is ordered that interest be paid
on the sum of ¢440,649,992.25 at the 91 day treasury bill rate from 1st August
2004 to 31st December, 2006. And it is further ordered that interest be paid on
the sum of $600,000 at the US Dollar rate as stipulated by the Bank of Ghana
from 1st August, 2004 to 31st December, 2006.’ <o:p></o:p>It
was against this decision that the appeal was lodged in this court on grounds
formulated as follows:— <o:p></o:p>(a)
The Learned Judge erred in law when he substituted or applied a rate of
interest of ‘the US dollar rate as stipulated by Bank of Ghana’ as applicable
post judgment rate of interest of the statutory sanctioned or provided post
judgment rate of interest on the damages of US $ 600,000 award as (part)
replacement value. <o:p></o:p>(b)
The Learned Judge further erred in law when he refused to apply the statutorily
sanctioned or provided post judgment rate of interest on the damages of US $
900,000 being loss of use. <o:p></o:p>Before
I go on to discuss these grounds of appeal, let me give brief background
information to this case. <o:p></o:p>On
29 July, 2004, the plaintiff obtained judgment against the Defendant/Respondent
(hereinafter also called as defendants) for money to be paid in cedis and
dollars with interest as follows:— <o:p></o:p>(1)
$ 2,658,986.00 being replacement value of the ship-Nova VIII <o:p></o:p>(2)
Interest on this amount from the date of beaching i.e. 9/3/2001 to date of
final payment. <o:p></o:p>(3)
$2,658,300 being amount payable to Fishy Company Limited breach of contract. <o:p></o:p>(4)
$ 1,700,000.00 for loss of use of vessel. <o:p></o:p>(5)
Interest on (3) and (4) from 9/3/2001 to date of final payment. <o:p></o:p>Dissatisfied
with the judgment the defendants, then appellants, appealed to the Court of
Appeal. But on 29th July, 2005, the Court of Appeal dismissed the appeal making
the following terms :— <o:p></o:p>(a)
Award of $ 1,800.00 or its cedi equivalent being the sum proposed for the
vessel to be insured in Exhibit C. <o:p></o:p>(b)
Plaintiff/Respondent entitled to a replacement value of the vessel of the sum
of $ 600,000 or its equivalent in cedis. <o:p></o:p>(C)
440,649,222.25 cedis <o:p></o:p>(d)
Affirm $ 1,700,000 or its cedi equivalent for loss of use of vessel. <o:p></o:p>(e)
Interest on the present award from 9/3/2001 to date of judgment and thereafter
the applicable statutory rate of interest. <o:p></o:p></sp</main>