AGRICULTURAL DEVELOPMENT BANK vs. AGYA ADU ENTERPRISE LIMITED, KWADWO ADU [2016]DLHC11887

Date	2016-11-29
Suit No.	SUIT NO. BC/113/2014
Citation No.	[2016]DLHC11887

HER LADYSHIP JUSTICE PATIENCE-MILLS TETTEH

RAMONA ABUGABE FOR PLAINTIFF

SAMMY TAY FOR DEFENDANT

[2016]DLHC11887
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													<main id="main" class="content" style="min-height: 60rem" >AGRICULTURAL
DEVELOPMENT BANK
<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p><a name="_heading=h.gjdgxs"></a>AGYA
ADU ENTERPRISE LIMITED, KWADWO ADU<span lang="EN-US" style="font-size:8.0pt;
mso-bidi-font-size:10.0pt;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"><o:p></o:p>(DEFENDANTS)<o:p></o:p>[HIGH COURT, ACCRA]<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: black; padding: 0cm 0cm 1pt;">

<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;border:none;mso-border-bottom-alt:solid black 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">SUIT NO. BC/113/2014&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; DATE: 29TH NOVEMBER 2016<o:p></o:p>

</div>COUNSEL&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0cm 0cm 1pt;">

<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:normal;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">RAMONA ABUGABE
FOR PLAINTIFF <o:p></o:p>

</div>CORAM<o:p></o:p>HER LADYSHIP JUSTICE PATIENCE-MILLS
TETTEH<o:p></o:p><div style="border-top-width: 1.5pt; border-top-color: black; border-left: none; border-bottom-width: 1.5pt; border-bottom-color: black; border-right: none; padding: 1pt 0cm;">

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

</div>By
the Plaintiff’s writ of summons and statement of claim dated 27/11/13 the
plaintiff bank is claiming against the 1st and 2nd defendants
a limited liability Company and its shareholder and Director
respectively, jointly and severally the following reliefs;<o:p></o:p><span lang="EN-US" style="font-size:12.0pt;
mso-bidi-font-size:16.0pt;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;;
letter-spacing:-.05pt;mso-font-width:99%">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An
order directed at the defendants to pay to the plaintiffs the sum of
sixty-three thousand and two hundred and fifty-six Ghana Cedis and fifty four
pesewas, (GH¢63, 256.54) being the balance outstanding as at September, 2013 on
the credit facility granted the 1st defendant by the plaintiff.<o:p></o:p><span lang="EN-US" style="font-size:12.0pt;
mso-bidi-font-size:16.0pt;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;;
letter-spacing:-.05pt;mso-font-width:99%">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest
on sixty-three thousand and two hundred and fifty-six Ghana cedis and fifty
four pesewas (GH¢63,256.54) from September 2013 till the date of final payment or in the alternative an order
for the judicial sale of the mortgaged property described in the mortgage deed
dated 24/11/2004 in satisfaction of the judgment debt.<o:p></o:p>&nbsp;&nbsp;THE
CASE OF THE PLAINTIFF<o:p></o:p>&nbsp;The
plaintiff is a financial institution licensed under the laws of Ghana to do business of banking, with its head office
located at ADB House, 37 Independent Avenue Accra and the 1st
defendant is a limited liability company incorporated under the laws of Ghana,
and</main>