[2016]DLCA4866 Login to Read Full Case <span style="font-size: 18px !important;"><p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt; text-align:center"><b><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"; color:#00B0F0">WILLIAM QUARTEY AND TRADEX RESOURCES FOUNDATION<o:p></o:p></span></b></p><p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt; text-align:center"><span style="font-size:10.0pt;line-height:115%;font-family: "Book Antiqua","serif"">(<i>PLAINTIFFS/JUDGMENT CREDITORS/RESPONDENT)<o:p></o:p></i></span></p><p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt; text-align:center"><b><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"; color:#00B0F0">vs<i>.<o:p></o:p></i></span></b></p><p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt; text-align:center"><b><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"; color:#00B0F0">NEIL HAMMOND & 2 ORS<o:p></o:p></span></b></p><p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt; text-align:center;tab-stops:45.0pt 49.5pt 63.0pt 67.5pt"><i><span style="font-size:10.0pt;line-height:115%;font-family:"Book Antiqua","serif"">(DEFENDANTS/JUDGMENT/DEBTORS)<o:p></o:p></span></i></p><p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt; text-align:center"><b><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"; color:#00B0F0">AND SETH QUARTEY & 2 OTHERS<o:p></o:p></span></b></p><p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt; text-align:center;tab-stops:45.0pt 49.5pt 63.0pt 67.5pt"><i><span style="font-size:10.0pt;line-height:115%;font-family:"Book Antiqua","serif"">(CLAIMANTS/ APPELLANTS)<o:p></o:p></span></i></p><p class="MsoNormalCxSpMiddle" align="center" style="margin-bottom:0in;margin-bottom: .0001pt;mso-add-space:auto;text-align:center"><b><span style="font-size:10.0pt;line-height:115%;font-family:"Book Antiqua","serif"; mso-bidi-font-family:Tahoma">[COURT OF APPEAL, ACCRA]<o:p></o:p></span></b></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" style="margin-bottom:0in;margin-bottom:.0001pt;text-align: justify;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;padding:0in; mso-padding-alt:0in 0in 1.0pt 0in"><span style="font-size:10.0pt;line-height: 115%;font-family:"Book Antiqua","serif";mso-bidi-font-family:Tahoma">CIVIL APPEAL SUIT NO: H1/136/15 18<sup>TH</sup> FEBRUARY, 16<o:p></o:p></span></p> </div><p class="MsoNormalCxSpMiddle" style="text-align:justify"><b><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"; mso-bidi-font-family:Tahoma">COUNSEL:<o:p></o:p></span></b></p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt; padding:0in 0in 1.0pt 0in"> <p class="MsoNormalCxSpMiddle" style="text-align:justify;border:none;mso-border-bottom-alt: solid windowtext 1.5pt;padding:0in;mso-padding-alt:0in 0in 1.0pt 0in"><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"; mso-bidi-font-family:Tahoma">MR. TWUMASI ANKRAH FOR THE CLAIMANT/APELLANT<o:p></o:p></span></p> </div><p class="MsoNormalCxSpMiddle" style="text-align:justify"><b><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"; mso-bidi-font-family:Tahoma">CORAM:<o:p></o:p></span></b></p><p class="MsoNormalCxSpMiddle" style="text-align:justify"><span style="font-size: 12.0pt;line-height:115%;font-family:"Book Antiqua","serif";mso-bidi-font-family: Tahoma">KANYOKE JA (PRESIDING), ACQUAYE JA, DZAMEFE JA<o:p></o:p></span></p><div style="mso-element:para-border-div;border-top:solid windowtext 1.5pt; border-left:none;border-bottom:solid windowtext 1.5pt;border-right:none; padding:1.0pt 0in 1.0pt 0in"> <p class="MsoNormalCxSpMiddle" align="center" style="text-align:center;border:none; mso-border-top-alt:solid windowtext 1.5pt;mso-border-bottom-alt:solid windowtext 1.5pt; padding:0in;mso-padding-alt:1.0pt 0in 1.0pt 0in"><b><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"; mso-bidi-font-family:Tahoma">JUDGMENT<o:p></o:p></span></b></p> </div><p class="MsoNormal" style="text-align:justify"><b><u><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"">DZAMEFE, JA<o:p></o:p></span></u></b></p><p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt; line-height:115%;font-family:"Book Antiqua","serif"">The plaintiff/respondent issued this writ of summons against the defendant/judgment debtors in the High Court, Commercial Division, Accra for the following reliefs:<b><u><o:p></o:p></u></b></span></p><p class="MsoListParagraphCxSpFirst" style="text-align:justify;text-indent:-.25in; mso-list:l3 level1 lfo1"><!--[if !supportLists]--><i><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"; mso-fareast-font-family:"Book Antiqua";mso-bidi-font-family:"Book Antiqua"">1.<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span></i><!--[endif]--><i><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"">Recovery of the sum of Gh¢288,419.87 being the outstanding amount due on the facility granted the 1<sup>st</sup> Defendant on 26<sup>th</sup> June 2008, repayment of which was guaranteed by the 2<sup>nd</sup> Defendant but the payment of which the defendants have failed and/or neglected to settle.<o:p></o:p></span></i></p><p class="MsoListParagraphCxSpMiddle" style="text-align:justify"><i><span style="font-size:12.0pt;line-height: 115%;font-family:"Book Antiqua","serif""><o:p> </o:p></span></i></p><p class="MsoListParagraphCxSpMiddle" style="text-align:justify;text-indent:-.25in; mso-list:l3 level1 lfo1"><!--[if !supportLists]--><i><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"; mso-fareast-font-family:"Book Antiqua";mso-bidi-font-family:"Book Antiqua"">2.<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span></i><!--[endif]--><i><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"">Interest accruing after 26<sup>th</sup> June 2008 at the rate of 10% per month calculated on a compound basis on all outstanding balance up to and inclusive of the date of final payment.<o:p></o:p></span></i></p><p class="MsoListParagraphCxSpMiddle" style="text-align:justify"><i><span style="font-size:12.0pt;line-height: 115%;font-family:"Book Antiqua","serif""><o:p> </o:p></span></i></p><p class="MsoListParagraphCxSpLast" style="text-align:justify;text-indent:-.25in; mso-list:l3 level1 lfo1"><!--[if !supportLists]--><i><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"; mso-fareast-font-family:"Book Antiqua";mso-bidi-font-family:"Book Antiqua"">3.<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span></i><!--[endif]--><i><span style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua","serif"">Costs<o:p></o:p></span></i></p><p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt; line-height:115%;font-family:"Book Antiqua","serif"">The plaintiff in his statement of claim averred he is the Chief Executive Officer (CEO) of the 2<sup>nd</sup> plaintiff Foundation. The 1<sup>st</sup> defendant is the Managing Director of a travel agency in Accra and the 2<sup>nd</sup> defendant his spouse.<o:p></o:p></span></p><p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt; line-height:115%;font-family:"Book Antiqua","serif"">In June 2008 the plaintiff’s granted 1<sup>st</sup> defendant company the sum of Gh¢20,000.00 as a loan facility for its business on agreed terms. The interest rate was fixed at 10% per month calculated on compound basis. The facility together with interest was for a period of one month from 26<sup>th</sup> June 2008 to 26<sup>th</sup> July 2008.<o:p></o:p></span></p><p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt; line-height:115%;font-family:"Book Antiqua","serif"">As security for the facility the 2<sup>nd</sup> defendant executed a personal guarantee to be liable in the event of a default on the part of the 1<sup>st</sup> defendant company. The defendants accepted the terms and conditions upon which the facility was granted by signing a copy of the offer dated 26<sup>th</sup> June 2008. Upon receipt of the cash the sum of Gh¢20,000.00 on 26<sup>th</sup> June 2008, the defendants issued the plaintiffs with post-dated cheques to cover the sums due the plaintiffs. They were dishonoured when the time was due and presented to the bank. All efforts by the plaintiffs to make the defendants settle their indebtedness have proved futile hence this suit. According to the plaintiff as at 26<sup>th</sup> October 2010, defendants indebtedness stood at Gh¢337,196.00.<o:p></o:p></span></p><p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt; line-height:115%;font-family:"Book Antiqua","serif"">The plaintiff obtained judgment against the defendants on 10<sup>th</sup> August 2011. Entry of judgment was served on defendants by publication in the 11<sup>th</sup> November 2011 edition of the “Daily Graphic” Newspaper after which the disputed property which was used as security for the loan was attached by the Registrar of the court for sale. Notice of the application for reserved price was served on the judgment debtor by publication in the 11<sup>th</sup> July 2014 edition of the “Daily Graphic”. Upon the grant of the application; Notice of the auction sale of the property was published in the 5<sup>th</sup> November 2014 issue of the “Ghanaian Times” Newspaper.<o:p></o:p></span></p><p class="MsoNormal" style="text-align:justify"><span style="font-size:12.0pt; line-height:115%;font-family:"Book Antiqua","serif"">On the 25<sup>th</sup> of November, 2014, a Notice of Claim was filed at the registry where the claimants in this appeal laid claim to