BANQUE SAHELO-SAHARRIENNE POUR L’IN VETSMENT ET LE COMMERCE (GH) LTD vs. PHEEBE’S COMPANY LIMITED, PHILIP ACQUAH, BARBARA WARD ACQUAH, EMMANUEL KOOMSON AND SEBASTIAN ZIGA [2016]DLHC4253

BANQUE SAHELO-SAHARRIENNE POUR L’IN VETSMENT ET LE COMMERCE (GH) LTD vs. PHEEBE’... [2016]DLHC4253

Date	2016-10-31
Suit No.	SUIT NO. BFS/305/2012
Citation No.	[2016]DLHC4253

SAMUEL K. A. ASIEDU

MS. AKOSUA GYAMFI DUAMROH WITH HER

MS. MONICA GERALDO DE LIMA FOR THE PLAINTIFF

MR. CHARLES BENTUM FOR THE DEFENDANT

[2016]DLHC4253
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													<main id="main" class="content" style="min-height: 60rem" ><a name="OLE_LINK1">BANQUE SAHELO-SAHARRIENNE POUR L’IN VETSMENT ET LE
COMMERCE (GH) LTD<o:p></o:p></a>vs.<o:p></o:p>PHEEBE’S COMPANY LIMITED, PHILIP
ACQUAH, BARBARA WARD ACQUAH, EMMANUEL KOOMSON AND SEBASTIAN ZIGA<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/305/2012&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: 31ST
OCTOBER, 2016 <o:p></o:p>

</div>COUNSEL:&nbsp;&nbsp; <o:p></o:p>MS. AKOSUA GYAMFI DUAMROH WITH HER, MS. MONICA
GERALDO DE LIMA FOR THE PLAINTIFF&nbsp;&nbsp; <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">

SAMUEL K. A. ASIEDU,
JUSTICE OF THE HIGH COURT<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>By an amended writ of
summons 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;">‘Payment of the
 sum of GH₵775,059.49 being
 the outstanding sum in respect of credit facility granted 1st
 defendant by plaintiff.<o:p></o:p></li>
 <li class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; border: none;">Interest on the
 said sum compounded at the approved rate of 35.5% plus a margin of 125 per
 annum from the 1st day of August, 2012 till date of final
 payment.<o:p></o:p></li>
 <li class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; border: none;">An order for the
 judicial sale of the mortgaged property being a parcel of land measuring
 13.66 situate at East Peduase, Dodowa in the Dangbe West district of the
 Greater Accra Region.<o:p></o:p></li>
 <li class="MsoNormal" style="text-align: justify; border: none;">Costs.’<o:p></o:p></li>
</ol>After the service of
the writ and its accompanying statement of claim on the defendants, an
appearance was entered followed by a statement of defence. Pre-trial settlement
of the case was not successful hence; the matter was referred to trial. Before
trial could commence however, the defendants discontinued the third-party
action against the third party, that is, the Attorney General. The action was
therefore heard between the plaintiff and the defendants. Witness statement was
filed by the parties. At the trial, the plaintiff called its representative to
give evidence after which the plaintiff closed its case. The defendants also
gave evidence through the 2nd defendant and announced the closure of
their case.<o:p></o:p>From the pleadings
filed by the parties, the court finds that the 1st defendant company
contracted two credit facilities from the plaintiff. The first credit facility
was in the sum of GH₵207,000. The second
credit facility, the plaintiff maintains, was also in the sum of GH₵168,000 but the defendants say was rather in
the sum of GH₵167,000. <o:p></o:p>From the evidence on
record however the court finds that on the 12th day of January, 2010
the 1st defendant company passed resolution to borrow a total of GH₵375,000 fro</main>