EXPORT-IMPORT BANK OF THE UNITED STATES OF AMERICA (USA) vs. BIBIANI LOGGING & LUMBER CO. LTD., JOYCE WIREKO BROBBEY AND BENJAMIN KWASI KUFOUR [2016]DLCA8486

EXPORT-IMPORT BANK OF THE UNITED STATES OF AMERICA (USA) vs. BIBIANI LOGGING & L... [2016]DLCA8486

Date	2016-02-29
Suit No.	SUIT NO.: H1/56/2014
Citation No.	[2016]DLCA8486

AYEBI J.A. (PRESIDING)

TORKORNOO (MRS) J. A.

DOMAKYAAREH (MRS) J. A

SEAN POKU FOR DEFENDANTS/APPELLANTS

NO LEGAL REPRESENTATION FOR PLAINTIFF/RESPONDENT

[2016]DLCA8486
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													<main id="main" class="content" style="min-height: 60rem" >EXPORT-IMPORT BANK OF THE UNITED STATES OF
AMERICA (USA)<o:p></o:p>(PLAINTIFF/RESPONDENT)<o:p></o:p>vs.<o:p></o:p>BIBIANI
LOGGING &amp; LUMBER CO. LTD., 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:0cm 0cm 1.0pt 0cm">

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; &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:0cm 0cm 1.0pt 0cm">

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:0cm 0cm 1.0pt 0cm">

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:0cm 0cm 1.0pt 0cm">

</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></s</main>