CAL BANK LTD. vs. INTERNET GHANA LTD, ELECTROMOD COMPANY LTD AND LESLIE TAMAKLOE [2015]DLCA8012

Date	2015-12-10
Suit No.	CIVIL APPEAL NO.: H1/94/2015
Citation No.	[2015]DLCA8012

S.E. KANYOKE J.A. (PRESIDING)

K. A. ACQUAYE J. A.

S. DZAMEFE J. A.

[2015]DLCA8012
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													<main id="main" class="content" style="min-height: 60rem" >CAL BANK LTD.<o:p></o:p>(PLAINTIFF/APPELLANT/RESPONDENT)<o:p></o:p><span lang="EN-US" style="font-size:12.0pt;line-height:150%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;
color:#00B0F0">vs.<o:p></o:p>INTERNET GHANA LTD, ELECTROMOD
COMPANY LTD AND LESLIE TAMAKLOE<o:p></o:p>(DEFENDANTS/RESPONDENTS/CROSS-APPELLANTS)<o:p></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;
padding:0cm 0cm 1.0pt 0cm">

CIVIL
APPEAL NO.:&nbsp; H1/94/2015&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:
10TH DECEMBER, 2015<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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S.E. KANYOKE J.A.
(PRESIDING), K. A. ACQUAYE J. A., S. DZAMEFE J. A.<o:p></o:p>

</div>&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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<p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt;
text-align:center;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">JUDGMENT<o:p></o:p>

</div>K. A. ACQUAYE, J. A.<o:p></o:p><o:p>&nbsp;</o:p>This is a judgment in respect of an appeal
filed by the plaintiff against the judgment delivered by the Commercial
Division of the High Court in Accra as well as a cross-appeal by the defendant
of the same judgment delivered on 29th August 2014.<o:p></o:p>The plaintiff/appellant issued a writ of
summons claiming against the defendants/respondents cross-appellants jointly
and severally that:-<o:p></o:p>a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
defendants pay to the plaintiff the amount of Gh¢492, 014.30 being as at 5th
April 2011 the outstanding balance of the overdraft facility granted to the 1st
defendant and guaranteed by the 2nd and 3rd defendants.<o:p></o:p>b)&nbsp;&nbsp;&nbsp;&nbsp; Interest
on the above amount from 6th April 2011 to the date of final payment
at the prevailing bank lending rate.<o:p></o:p>c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
defendants pay to the plaintiff the amount of US$1,045,774.61 being as at 5th
April 2011 the outstanding balance of the medium term loan granted to the 1st
defendant and guaranteed by the 2nd and 3rd defendant.<o:p></o:p>d)&nbsp;&nbsp;&nbsp;&nbsp; Interest
on the above amount from the 6th of April 2011 to the date of final
payment at the prevailing bank lending rate <o:p></o:p><o:p>&nbsp;</o:p>OR
IN THE ALTERNATIVE<o:p></o:p><o:p>&nbsp;</o:p>e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Judicial
sale of House No. 1, Hibiscus Street, &nbsp;Teshie Nungua Estates, Accra also known as
parcel No. 67, Block 4, Section 74, Teshie, Nungua Estates.<o:p></o:p>f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Judicial
sale of office building known as “Mama Abui Plaza” located at No. 2, Hall
Avenue, Adabraka.<o:p></o:p>