UT BANK LTD. vs. NEW ERA MINING CONTRACTORS LTD., BENJAMIN QUARCOOPOME AND AUDREY QUARCOOPOME [2016]DLHC9070

UT BANK LTD. vs. NEW ERA MINING CONTRACTORS LTD., BENJAMIN QUARCOOPOME AND AUDRE... [2016]DLHC9070

Date	2016-02-18
Suit No.	SUIT NO.BFS/153/2014
Citation No.	[2016]DLHC9070

HER LADYSHIP JUSTICE JENNIFER ABENA DADZIE

CHRISTOPHER ARCHER ESQ. WITH DENNIS-MICHAEL AYETTEY ESQ. AND LOIS-MICHELLE GYAMPO ESQ. OF ARCHER ARCHER & CO. FOR PLAINTIFF/APPLICANT

FIONA ASAFU-ADJAYE ESQ. WITH LINDA ACQUAH ESQ. OF ADONTEN CHAMBERS COUNSEL FOR 2ND & 3RD DEFENDANTS/RESPONDENTS

[2016]DLHC9070
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													<main id="main" class="content" style="min-height: 60rem" >UT BANK LTD.<o:p></o:p>(PLAINTIFF/APPLICANT)<o:p></o:p>vs.<o:p></o:p>NEW ERA MINING CONTRACTORS LTD., BENJAMIN QUARCOOPOME<o:p></o:p>AND AUDREY QUARCOOPOME<o:p></o:p>(DEFENDANTS/RESPONDENTS)<o:p></o:p>[HIGH COURT, ACCRA]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0cm 0cm 1.0pt 0cm">

<p class="MsoListParagraphCxSpLast" align="center" style="margin:0cm;margin-bottom:
.0001pt;mso-add-space:auto;text-align:center;line-height:115%;border:none;
mso-border-bottom-alt:solid windowtext 1.5pt;padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">SUIT NO.BFS/153/2014&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; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; DATE: 18TH FEBRUARY, 2016<o:p></o:p>

</div>COUNSEL:<o:p></o:p>CHRISTOPHER ARCHER, ESQ., WITH
DENNIS-MICHAEL AYETTEY, ESQ. AND LOIS-MICHELLE GYAMPO, ESQ., OF ARCHER, ARCHER
&amp; CO. FOR PLAINTIFF/APPLICANT<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0cm 0cm 1.0pt 0cm;margin-left:0cm;margin-right:4.75pt">

FIONA
ASAFU-ADJAYE, ESQ., WITH LINDA ACQUAH, ESQ. OF ADONTEN CHAMBERS, COUNSEL FOR 2ND
&amp; 3RD DEFENDANTS/RESPONDENTS<o:p></o:p>

</div>CORAM:<o:p></o:p>HER
LADYSHIP JUSTICE JENNIFER ABENA DADZIE<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 0cm 1.0pt 0cm">

<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:0cm;mso-padding-alt:1.0pt 0cm 1.0pt 0cm">RULING<o:p></o:p>

</div>This is an application by
Plaintiff/Applicant herein praying that summary judgment be entered against the
2nd and 3rd Defendants/Respondents for the liquidated
reliefs endorsed on the Writ of Summons, to wit:<o:p></o:p>“Recovery
of the sum of Eight Hundred and Forty-Three Thousand, Five Hundred and
Twenty-Six Ghana Cedis and Ninety-Six Pesewas (GH₵843,526.96)
plus interest at the agreed rate of 30% per annum from 10th April
2013, to the date of final payment plus costs from 1st, 2nd
and 3rd Defendants jointly and severally”,<o:p></o:p>on the ground that
the 2nd and 3rd Defendants/Applicants have no defence to
the claim endorsed on the Writ of Summons, or to a particular part of the
claim.<o:p></o:p>I have read the
application for Summary Judgment, the supporting affidavit and examined the
various exhibits put in evidence by the Plaintiff/Applicant; the Statement of Defence
and the Affidavit in Opposition to this application filed by the 2nd
and 3rd Defendants/Respondents to this suit.&nbsp; Detailed in the affidavit accompanying the
motion paper are the facts, which, according to the Plaintiff/Applicant gave
rise to the instant application. &nbsp;<o:p></o:p>According to the
Plaintiff/Applicant, in September 2011, upon a request by the 1st
Defendant, the Plaintiff/Applicant agreed to advance to the 1st
Defendant two (2) facilities, namely, an equipment financing facility and a
short term loan facility amounting to One Million Six Hundred and Twenty-Five
Thousand Ghana Cedis (GH₵ 1,625,000.00) at the rate of interest
calculated at 30% per annum made up of a base rate of 25.9% per annum and a
risk margin of 4.1% per annum payable over a period of eighteen (18) months.&nbsp; These terms were captured in a banking
facility letter dated 12th September, 2011 and a Memorandum of
Acceptance dated 13th September, 2013 both of which are attached to
the Affidavit and marked as “UT 1”
and “UT 2”. <o:p></o:p>Plaintiff/Applicant
states that as security for the repayment of the facility, the 2nd
and 3rd Defendants/Respondents mortgaged their jointly owned
property described as Plot No. 930 Block 3, Section 075 situate at Adjiringano,
Accra in favour of the Plaintiff/Applicant.&nbsp;
According to the Plaintiff/Applicant, this is evidenced by a Deed of
Mortgage dated 20th October, 2011, attached to the Affidavit as
Exhibit “UT 3”, between the
Plaintiff/Applicant as Mortgagee, the 1st Defendant as Borrower and
the 2nd and 3rd Defendants/Respondents as Mortgagors.<o:p></o:p>It is the
Plaintiff/Applicant’s further case that an amount of Seven Hundred Thousand
Ghana Cedis (GH₵