DALEX FINANCE & LEASING CO {PLAINTIFF} vs. THOMBOAT CONSTRUCTION LTD {DEFENDANTS} SIC COMPANY LTD [2016]DLHC6286

DALEX FINANCE & LEASING CO {PLAINTIFF} vs. THOMBOAT CONSTRUCTION LTD {DEFENDANTS... [2016]DLHC6286

Date	2016-07-28
Suit No.	Suit No. BFS/169/14
Citation No.	[2016]DLHC6286

JENNIFER DODOO (MRS)

G. K. BOADU FOR APPLICANT

H.K. KODUAH FOR RESPONDENT

[2016]DLHC6286
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													<main id="main" class="content" style="min-height: 60rem" >DALEX FINANCE &amp; LEASING CO<o:p></o:p>{PLAINTIFF}<o:p></o:p>vs.<o:p></o:p>THOMBOAT CONSTRUCTION LTD {DEFENDANTS} SIC COMPANY LTD<o:p></o:p>[HIGH
COURT (COMMERCIAL DIVISION), ACCRA]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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Suit No. BFS/169/14&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: 28TH JULY 2016<o:p></o:p>

</div>COUNSEL:
<o:p></o:p>G. K. BOADU FOR APPLICANT<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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H.K. KODUAH FOR RESPONDENT<o:p></o:p>

</div>CORAM:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p>JENNIFER DODOO (MRS) JUSTICE OF THE
HIGH COURT<o:p></o:p><div style="mso-element:para-border-div;border-top:solid windowtext 1.5pt;
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<p class="MsoNormal" align="center" style="text-align:center;line-height:115%;
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">JUDGMENT<o:p></o:p>

</div><o:p>&nbsp;</o:p>The Plaintiff’s claim against the 1st
and 2nd Defendants jointly and/or severally was for an amount of
GH¢464,409.75 being the outstanding balance as at the 9th day of
June 2014 in respect of a credit facility granted to the 1st
Defendant and guaranteed by the 2nd Defendant.&nbsp; The Plaintiff also made a claim for compound
monthly interest of 6% from 10th June 2013 till date of final
payment.<o:p></o:p><o:p>&nbsp;</o:p>It was the Plaintiff’s case as per
its Statement of Claim that it granted a loan facility of GH¢212,156.00 to the
1st Defendant, a private limited liability company to enable it
purchase 2 trucks.&nbsp; This loan was secured
by a guaranteed bond issued by the 2nd Defendant in which the 2nd
Defendant guaranteed to pay to Plaintiff upon written demand the guaranteed sum
of GH¢212,000.00 together with the agreed interest.<o:p></o:p>According to the Plaintiff, the 1st
Defendant had failed to liquidate its indebtedness within the agreed period of
12 months.&nbsp; The 2nd Defendant
had also failed to make good on its guarantee to repay the loan in spite of
written demands made on it.&nbsp; <o:p></o:p><o:p>&nbsp;</o:p>The 1st Defendant stated
in its defence that though the Plaintiff purchased the articulator heads for
it, these were registered in the Plaintiff’s name and the vendor did not
recognize the 1st Defendant as the purchaser.&nbsp; These trucks heads were also insured with
Star Assurance in Plaintiff’s name.<o:p></o:p><o:p>&nbsp;</o:p>The Defendant stated further that
one of the truck heads developed a gear box fault.&nbsp; The Plaintiff was informed yet failed to make
a demand as the registered owner for the replacement or repair of under the
warranty with the vendors.<o:p></o:p><o:p>&nbsp;</o:p>The vehicle then got involved in an accident
but the Plaintiff and the 2nd Defendant who were joint insured
parties failed ot claim on the insurance policy.&nbsp; As a result, the 1st Defendant
found it impossible to execute the haulage contract he had with the Ghana
Bauxite Company.<o:p></o:p><o:p>&nbsp;</o:p>The 1st Defendant made a
counterclaim against the Plaintiff and the 2nd Defendant for the
following reliefs:<o:p></o:p><o:p>&nbsp;</o:p>i.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A
declaration that the Plaintiff was in breach of trust when it failed to make a
claim under the warranty when the gear box of the articulator head got broken
only 2 months after it was bought from Stella Logistics Ltd.<o:p></o:p>ii.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A
declaration that the Plaintiff and 2nd Defendant were in breach of
trust when they failed to make a claim under the insurance policy for payment
of compensation to the 1st Defendant as beneficiary when the tipper
got damaged.<o:p></o:p>iii.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Damages
for breach of trust and loss of earnings resulting from Plaintiff’s and 2nd
Defendant’s failure in making a claim or compensation to restore the damaged
tipper under the insurance policy with Star Assurance Company and the
Plaintiff’s failure in making a claim for replacement or compensation uner the
warranty with Stella Logistic Ltd.<o:p></o:p>