CAL BANK LTD (PLAINTIFF) vs. EUJOYS MOTORCYCLES LTD & ANOR (DEFENDANT) [2016]DLHC7295

Date	2016-02-25
Suit No.	SUIT NO. BFS/90/14
Citation No.	[2016]DLHC7295

HIS LORDSHIP GEORGE K. KOOMSON (J).

KWEKU GYAU-BAFFOUR FOR PLAINTIFF

TETTEH JOSIAH FOR DEFENDANT

[2016]DLHC7295
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													<main id="main" class="content" style="min-height: 60rem" >CAL BANK LTD<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>EUJOYS
MOTORCYCLES LTD &amp; ANOR<o:p></o:p>(DEFENDANT)<o:p></o:p><o:p>&nbsp;</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;
padding:0in 0in 1.0pt 0in">

SUIT
NO. BFS/90/14&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; &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:
25TH FEBRUARY, 2016<o:p></o:p>

</div>COUNSEL: <o:p></o:p>KWEKU
GYAU-BAFFOUR FOR PLAINTIFF<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">

TETTEH JOSIAH FOR
DEFENDANT <o:p></o:p>

</div>CORAM:<o:p></o:p>HIS
LORDSHIP GEORGE K. KOOMSON (J).<o:p></o:p><div style="mso-element:para-border-div;border-top:solid windowtext 1.5pt;
border-left:none;border-bottom:solid windowtext 1.5pt;border-right:none;
padding:1.0pt 0in 1.0pt 0in">

<p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt;
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>The 1st Defendant was granted a
medium-term loan facility of GH¢308, 445.23 in the nature of a restructuring of
an existing debt. This was done to enable the 1st Defendant to
purchase motorbikes for its business. The facility was granted on the 1st
of December, 2013 and was to expire on the 30th of October, 2014 at
an interest rate of 30% per annum. The 2nd Defendant signed a
personal guarantee to be personally liable to the bank upon the default of the
1st Defendant Company, which said company the 2nd Defendant
is the Managing Director. The 2nd Defendant further mortgaged his landed
properties, namely, Parcel No. 29 Block 8, section 195, Ablekuma, Accra and Parcel
No. 56, Block 4, section 014, Adabraka, Accra. The failure of the 1st
Defendant to retire the loan facility caused the Plaintiff to issue the instant
Suit asking for:<o:p></o:p><o:p>&nbsp;</o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">a)<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp;
The
payment of GH¢165,044.01 being the outstanding balance as at February 9, 2014.<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">b)<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp;
An
interest at the contractual rate of 30% per annum from February 2014 to the
date of final Judgement and thereafter interest at the prevailing bank rate
from the date of Judgement until date of final payment. <o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">c)<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In
addition or in the alternative an order for the judicial sale of the mortgaged
properties situate and being at Ablekuma and Adabraka, all in Accra in the
Greater Accra Region of Ghana. <o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">d)<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp;
Costs.
<o:p></o:p><o:p>&nbsp;</o:p>It is noted at the onset, that, when the Suit was
referred for trial after the breakdown of pre-trial settlement, the Court made
an order on the 18th of March, 2015 for parties to file and exchange
documents. This was followed with an order on the 21st of April,
2015 for parties to file their respective Witness Statements. These two orders
were all made in the presence of Defence Counsel Josiah Tetteh being led by
Adjei Nuamah.<o:p></o:p><o:p>&nbsp;</o:p>