ECOBANK GHANA LIMITED vs. ALUMINIUM ENT. LTD. [2014]DLCA4651

Date	2014-03-27
Suit No.	CIVIL APPEAL SUIT NO.H1/158/2013
Citation No.	[2014]DLCA4651

KUSI-APPIAH J.A. (PRESIDING)

OFOE J.A.

SOWAH J.A.

MR. AGYABENG AKRASI FOR THE DEFENDANT/APPELLANT

NAA AFARLEY DADSON WITH PEGGY EVANS QUARTEY (MS.) AND

MR. SAMEUL BARTELS FOR THE PLAINTIFF/RESPONDENT

[2014]DLCA4651
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													<main id="main" class="content" style="min-height: 60rem" >ECOBANK GHANA
LIMITED&nbsp; <o:p></o:p>(PLAINTIFF/RESPONDENT)<o:p></o:p>vs.<o:p></o:p>ALUMINIUM ENT. LTD. <o:p></o:p>(DEFENDANT/APPELLANT)<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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CIVIL APPEAL SUIT NO.H1/158/2013&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: 27TH MARCH, 2014<o:p></o:p>

</div>COUNSEL:<o:p></o:p>MR. AGYABENG AKRASI FOR
THE DEFENDANT/APPELLANT<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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NAA
AFARLEY DADSON WITH PEGGY EVANS QUARTEY (MS.) AND MR. SAMEUL BARTELS FOR THE
PLAINTIFF/RESPONDENT <o:p></o:p>

</div>CORAM:
<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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KUSI-APPIAH
J.A. (PRESIDING), OFOE J.A., SOWAH J.A.<o:p></o:p>

</div>&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; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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JUDGMENT<o:p></o:p>

</div>KUSI-APPIAH,
J.A. :<o:p></o:p><o:p>&nbsp;</o:p>This is an appeal against the ruling of an Accra
High Court (Commercial Division) presided over by Her Ladyship Barbara
Ackah-Yensu, Justice of Appeal, sitting as an additional High Court Judge,
refusing an application for leave to re-open of case and to amend statement of
defence and counterclaim by the defendant. <o:p></o:p>On the 18th December, 2006 the
plaintiff/respondent (hereinafter called the plaintiff) acting through their
solicitor issued a writ against the defendant/appellant (hereinafter referred
to as defendant) for the following reliefs:-<o:p></o:p>“(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; recovery
of the sum of two hundred and forty eight thousand, one hundred and seven point
eight three Euro (€248,107.83) or its equivalent in cedis being the outstanding
balance on the loan granted to the defendant by plaintiff at the request of the
defendant, which said amount is due and owing to plaintiff and which said
amount defendant has failed and/or refused to pay the plaintiff in spite of
several and repeated demands made thereof.<o:p></o:p>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest
on the said amount from the 1st day of November, 2008 to date of
final payment.<o:p></o:p>(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Costs…”<o:p></o:p>The facts which gave rise to this action were as
follows:&nbsp; The plaintiff is a body
corporate incorporated under the Laws of Ghana, engaged in the business of
banking.&nbsp; The defendant was at all
material times a customer of the plaintiff’s bank.<o:p></o:p>Sometime in March 1992, the plaintiff at the
request of the defendant granted to defendant a loan in the sum of one hundred
and sixty five thousand Euro (€165,000.00) to support defendants business on
terms and conditions contained in the loan agreement dated 11th day
of March, 1992.<o:p></o:p>It is the case of the plaintiff that the parties
herein agreed that there shall be a five years moratorium period for the
payment of the principal, but thereafter the said principal shall be paid in
seven annual installments commencing on the 30th day of September,
1997 and ending on the 30th day of September, 2003.<o:p></o:p>The plaintiff averred that it was a term of the
loan agreement that in the event of a default, the defendant shall be liable to
pay a default interest of seven point five percent (7.5%) on the amount
outstanding.<o:p></o:p>According to the plaintiff, the defendant has
failed and/or refused to make repayment installme</main>