ECOBANK (GHANA) LIMITED vs. KENDICKS CONSTRUCTION LTD, DICKSON ATTA, SAMUEL KOFI NKETIAH, STEPHEN KWASI OSEI AND ROSE NKETSIAH [2016]DLHC9241

ECOBANK (GHANA) LIMITED vs. KENDICKS CONSTRUCTION LTD, DICKSON ATTA, SAMUEL KOFI... [2016]DLHC9241

Date	2016-06-21
Suit No.	SUIT NO. BFS 23/2015
Citation No.	[2016]DLHC9241

HIS LORDSHIP JUSTICE P. BRIGHT MENSAH

ACKAAH-GYASI FOR THE DEFENDANTS/APPLICANTS

AGYEI NUAMAH FOR THE PLAINTIFF/RESPONDENT

[2016]DLHC9241
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													<main id="main" class="content" style="min-height: 60rem" >ECOBANK (GHANA) LIMITED<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>KENDICKS CONSTRUCTION LTD, DICKSON ATTA, SAMUEL KOFI NKETIAH, STEPHEN
KWASI OSEI AND ROSE NKETSIAH<o:p></o:p>(DEFENDANTS)<o:p></o:p>[HIGH
COURT, SEKONDI]<o:p></o:p><o:p>&nbsp;</o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0cm 0cm 1.0pt 0cm">

SUIT NO. BFS 23/2015&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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:
21TH JUNE 2016<o:p></o:p>

</div>COUNSEL:<o:p></o:p>ACKAAH-GYASI FOR THE DEFENDANTS/APPLICANTS<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<p class="MsoFootnoteText" style="text-align:justify;text-justify:inter-ideograph;
line-height:115%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
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PLAINTIFF/RESPONDENT<o:p></o:p>

</div>CORAM:<o:p></o:p>HIS LORDSHIP
JUSTICE P. BRIGHT MENSAH<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%;
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solid windowtext 1.5pt;padding:0cm;mso-padding-alt:1.0pt 0cm 1.0pt 0cm">RULING<o:p></o:p>

</div><o:p>&nbsp;</o:p>Per a motion
on notice filed 05/05/2016, the defendants/judgment/debtors/ applicants move
this court for:<o:p></o:p><o:p>&nbsp;</o:p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; “…………………….an order for payment by instalment
and for<o:p></o:p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;waiving interest as per the accompanying
affidavit, and for<o:p></o:p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;any
further order or orders as this honourable court shall<o:p></o:p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; deem just.”<o:p></o:p><o:p>&nbsp;</o:p>The thrust of
the application, the grounds upon which are catalogued in the accompanying
affidavit, is that the 1st defendant/applicant contracted with the
Plaintiff/respondent bank for a loan of Gh¢250,000.00 to execute a Government
of Ghana project.&nbsp; It has by 31/10/2013
paid off the principal sum in addition to an interest of Gh¢34,566.90 making a
total payment of Gh¢284,566.90.<o:p></o:p><o:p>&nbsp;</o:p>It has been
averred to in paragraph 3 of the accompanying affidavit that a further payment
of Gh¢50,000.00 as interest was made on 30/04/2014.&nbsp; Yet the Plaintiff bank is exacting additional
interest of Gh¢118,698.95 described as penal interest.<o:p></o:p><o:p>&nbsp;</o:p>Now, whereas
the 1st defendant/applicant is praying the court for an order to pay
by instalment, any additional or accrued interest, it is further praying that
the penal interest of Gh¢118,698.95 be waived. <o:p></o:p><o:p>&nbsp;</o:p>It must be put
on record that the Plaintiff/respondent opposes the application. &nbsp;<o:p></o:p>It has been
averred to in paragraph 6 of the Affidavit In Opposition, for eg., that the
defendants’ obligation to repay the judgment debt was not based on the
condition that he received payments from the Government of Ghana.&nbsp; Rather, it was based on the condition that
the amount due was repaid upon demand.<o:p></o:p><o:p>&nbsp;</o:p>It was averred
further that if the Plaintiff/respondent was to rely on government cheques for
the payment of its debts by the defendants/applicants its business would
totally collapse.<o:p></o:p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p>Arguments in support
of application:<o:p></o:p><o:p>&nbsp;</o:p>In moving the
application, learned Counsel for the defendants/applicants relied on all the
averments as set out in the accompanying affidavit.<o:p></o:p><o:p>&nbsp;</o:p>He argued
first, that having paid off the principal sum together with interest, the 1st
defendant ought to be granted breathing space to pay by instalment, any accrued
interest.&nbsp; According to Counsel, the loan
was taken to execute Government of Ghana feeder road project but ironically the
government has not made any payment to the 1st defendant
company.&nbsp; He emphasi</main>