IDEAL FINANCE LIMITED vs. SKY CONSULT GHANA LIMITED, ABU MILLAH AND DR. MUTAWAKILU IDDRISU [2016]DLHC4214

IDEAL FINANCE LIMITED vs. SKY CONSULT GHANA LIMITED, ABU MILLAH AND DR. MUTAWAKI... [2016]DLHC4214

Date	2016-06-03
Suit No.	SUIT NO. BFS/88/2014
Citation No.	[2016]DLHC4214

SAMUEL K. A. ASIEDU

MR. JULIUS ASINYO FOR MR. ARCHIE MARTIN DANSO JNR. FOR THE PLAINTIFF

MR. THOMAS HUGHES FOR 1ST AND 2ND DEFENDANTS

MRS. CANDY FRIMPONG BAIDOO FOR MR. SAMPSON OBENG FOR THE 3RD DEFENDANT

[2016]DLHC4214
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													<main id="main" class="content" style="min-height: 60rem" ><a name="OLE_LINK1">IDEAL FINANCE LIMITED<o:p></o:p></a>vs.<o:p></o:p>SKY CONSULT GHANA LIMITED, ABU
MILLAH AND DR. MUTAWAKILU IDDRISU<o:p></o:p>&nbsp;[HIGH COURT (COMMERCIAL DIVISION), ACCRA]<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. BFS/88/2014&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;DATE: 3RD JUNE, 2016 <o:p></o:p>

</div>COUNSEL:&nbsp;&nbsp; <o:p></o:p>MR. JULIUS ASINYO FOR MR. ARCHIE MARTIN DANSO
JNR. FOR THE PLAINTIFF <o:p></o:p>MR. THOMAS HUGHES FOR 1ST AND 2ND
DEFENDANTS <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">

MRS. CANDY
FRIMPONG BAIDOO FOR MR. SAMPSON OBENG FOR THE 3RD DEFENDANT <o:p></o:p>

SAMUEL K. A. ASIEDU,
JUSTICE OF THE HIGH COURT<o:p></o:p>

<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>By a writ of summons filed on the 27th
March, 2014 the plaintiff claims against the defendants:<o:p></o:p><ol style="margin-top:0in" start="1" type="a">
 <li class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; border: none;">The sum of GH₵207,306.66 being outstanding balance in
 respect of the loan granted 1st defendant.<o:p></o:p></li>
 <li class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; border: none;">Interest on (a) at the monthly rate of
 6.5% per month from March 10th, 2014 till date of final
 payment. <o:p></o:p></li>
 <li class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; border: none;">Cost<o:p></o:p></li>
 <li class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; border: none;">Attorney‘s fee being 10% of the sum
 owed.<o:p></o:p></li>
 <li class="MsoNormal" style="text-align: justify; border: none;">Judicial sale of
 the 3rd defendant’s landed properties assigned to plaintiff and
 which properties are described in paragraph 8 of the statement of claim. <o:p></o:p></li>
</ol>An appearance was entered and later statement
of defence filed jointly by the 1st and 2nd defendants
and separately by the 3rd defendant after service of the writ and
statement of claim. The plaintiff filed a reply. After the failure of pre-trial
settlement, the matter was set down for hearing. The plaintiff gave evidence
per its representative and called witnesses to close its case. The 2nd
defendant gave evidence for himself and on behalf of the 1st
defendant and closed its case. The 3rd defendant also gave evidence
and announced the closure of his case thereafter. <o:p></o:p>From the pleadings filed by the parties the
court finds and holds that the following facts are not in issue as a result of
admission by the defendants. <o:p></o:p>It is not in dispute that the 1st
defendant is a limited liability company incorporated in Ghana and in the
business of the financial services consulting, money transfer services and
business development services. The court also finds that by a letter dated 30th
day of July, 2012, exhibit A herein, the first defendant applied to the
plaintiff for a credit facility of Gh₵300, 000.<o:p></o:p>That by an offer letter dated 13th
of August, 2012, exhibit B herein, the plaintiff approved a loan of GH₵300, 000 for the 1st defendant on
the terms and conditions contained in the said letter.<o:p></o:p>Again the court finds as a fact that by a
credit facility agreement dated the 15th August, 2012, exhibit C
herein, the 1st defendant was granted a loan of GH