EXPORT-IMPORT BANK OF THE UNITED vs. BIBIANI LOGGING & LUMBER CO. LTD AND JOYCE WIREKO BROBBEY AND BENJAMIN KWASI KUFOUR [2016]DLCA4735

EXPORT-IMPORT BANK OF THE UNITED vs. BIBIANI LOGGING & LUMBER CO. LTD AND JOYCE... [2016]DLCA4735

Date	2016-02-29
Suit No.	SUIT NO: H1/56/2014
Citation No.	[2016]DLCA4735

AYEBI J.A. (PRESIDING)

TORKORNOO (MRS) J. A.

DOMAKYAAREH (MRS) J. A.

SEAN POKU FOR DEFENDANTS/APPELLANTS

NO LEGAL REPRESENTATION FOR PLAINTIFF/RESPONDENT

[2016]DLCA4735
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													<main id="main" class="content" style="min-height: 60rem" >EXPORT-IMPORT BANK OF
THE UNITED<o:p></o:p>(PLAINTIFF/RESPONDENT)<o:p></o:p>vs.<o:p></o:p>BIBIANI LOGGING &amp;
LUMBER CO. LTD AND JOYCE WIREKO BROBBEY AND BENJAMIN KWASI KUFOUR<o:p></o:p>(DEFENDANTS/APPELLANTS)<o:p></o:p>[COURT OF APPEAL, KUMASI]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

SUIT
NO: H1/56/2014&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: 29TH FEBRUARY,
2016<o:p></o:p>

</div>COUNSEL:<o:p></o:p>SEAN POKU FOR
DEFENDANTS/APPELLANTS<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

NO
LEGAL REPRESENTATION FOR 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;
padding:0in 0in 1.0pt 0in">

AYEBI
J.A. (PRESIDING), TORKORNOO (MRS) J. A., DOMAKYAAREH (MRS) 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;
padding:0in 0in 1.0pt 0in">

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

</div>TORKORNOO
(MRS), J.A.<o:p></o:p>The Plaintiff Respondent (hereinafter
referred to as Respondent) commenced this action by an attorney Mrs. Claris Efa
Quayson. The Respondent’s case against the Defendants/Appellants was that the 1st
Appellant had obtained a credit facility of US$901,765 from First International
Bank of United States of America. They had failed to honor their repayment
obligations and as guarantor to the lender on the debts, the Plaintiff had been
called to pay the debt of principal with interest. It had paid the said debt to
First International Bank and was now seeking reimbursement from the Appellants.
<o:p></o:p>Its case was that the 2nd
and 3rd Appellants had executed unconditional guarantees to pay the
1st Appellant’s debts and also executed promissory notes to that
effect. The Respondent claimed for:<o:p></o:p>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The
total sum of One million, Six Hundred and Twenty Two Thousand, Seven Hundred
and Thirty-Two United States Dollars (US$1,622,732.00) being the outstanding amount
and unpaid balance on the total credit facility plus ordinary accrued interest
and post maturity interest as of December4, 2009.<o:p></o:p>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest
at the rate of 4.5% per annum above LIBOR on the Outstanding Sum from December
4, 2009 to date of final payment.<o:p></o:p>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Cost
incurred in this matter; and<o:p></o:p>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;