THE REPUBLIC vs. HIGH COURT, COMMERCIAL DIVISION, ACCRA EX PARTE: IVORY FINANCE COMPANY LTD AND OTHERS [2016]DLSC2841

THE REPUBLIC vs. HIGH COURT, COMMERCIAL DIVISION, ACCRA EX PARTE: IVORY FINANCE... [2016]DLSC2841

Date	2016-05-19
Suit No.	CIVIL APPEAL NO. J5/20/2016
Citation No.	[2016]DLSC2841

ATUGUBA JSC (PRESIDING)

BAFFOE-BONNIE JSC

BENIN JSC

APPAU JSC

PWAMANG JSC

RICHARD AMOFA ESQ. (LED BY EMMANUEL AMMISSAH) FOR THE APPLICANT.

STEPHEN AGYEMAN ESQ. FOR THE 1ST TO 3RD INTERESTED PARTIES.

KIZITO BEYUO ESQ.( WITH HIM KWAME ADOBOR AND ABIGAIL TETTEY FOR THE 4TH INTERESTED PARTY.

[2016]DLSC2841
																																						<div class="restriction-wrapper">
														<div class="container-lg">
															<div class="row">
																<div class="col-md-12 restricted-content">
																	<div class="restricted-content-img-wrapper">
																		<div class="lock-icon bounce-7">
																			<img class=""
																				src="https://www.dennislawgh.com/dl-assets/dl-images/lock-content.png"
																				alt="Subscription based content">
																		</div>
																	</div>
																	 
																		<a href="https://www.dennislawgh.com/login"
																		class="btn btn-primary btn-lg"
																		style="font-family: 'open sans'; text-transform: capitalize; border-radius: 8px"> 
																		Login to Read Full Case </a>
																	 
																	
																</div>
															</div>
														</div>
													</div>
													<main id="main" class="content" style="min-height: 60rem" >THE REPUBLIC<o:p></o:p>vs.<o:p></o:p>HIGH COURT, COMMERCIAL
DIVISION, ACCRA<o:p></o:p>EX PARTE: IVORY FINANCE
COMPANY LTD AND OTHERS<o:p></o:p>&nbsp;[SUPREME COURT, 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">

CIVIL APPEAL NO. J5/20/2016&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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: 19TH
MAY, 2016<o:p></o:p>

</div>COUNSEL:&nbsp;&nbsp; <o:p></o:p>RICHARD
AMOFA ESQ. (LED BY EMMANUEL AMMISSAH) FOR THE APPLICANT.<o:p></o:p>STEPHEN
AGYEMAN ESQ. FOR THE 1ST TO 3RD INTERESTED PARTIES.<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">

KIZITO
BEYUO ESQ.( WITH HIM KWAME ADOBOR AND ABIGAIL TETTEY&nbsp; FOR THE&nbsp;
4TH&nbsp; INTERESTED PARTY.<o:p></o:p>

</div>CORAM:
<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">

ATUGUBA
JSC (PRESIDING), BAFFOE-BONNIE JSC, BENIN JSC, APPAU JSC, AND PWAMANG JSC<span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Times New Roman&quot;;mso-fareast-theme-font:minor-fareast;
mso-bidi-font-family:Tahoma">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <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">

JUDGEMENT<o:p></o:p>

</div>BENIN, JSC:- <o:p></o:p>This
is an application seeking to invoke the supervisory jurisdiction of this court
by way of certiorari to quash the decision of Buadi J. presiding over the High
Court, Commercial Division, Accra. The said decision was given on the 25th
day of February 2016. It is pertinent to set out in detail the chronological
events giving rise to the decision under attack, in order to appreciate the
grounds for this application. It all began with the issuance of a writ of
summons by the applicant herein against the interested parties herein jointly
and severally seeking the specific sum of GH₵19, 303,800.00 and also interest at
stated rates. The applicant applied to the court for summary judgment but this
was opposed. Whilst that application was pending, the applicant and the 4th
interested party herein, the State Insurance Company Ltd., filed terms of
settlement which the court adopted as consent judgment.<o:p></o:p>The
4th interested party issued a fresh writ at the High Court number
ACC/02/15 seeking to set aside the consent judgment mainly on ground of fraud,
particulars of which were pleaded. One of the particulars pleaded was that the
Managing Director of the SIC Insurance Co. Ltd., Mrs. Nkani, acted on her own
without recourse to, and without the approval of, the company’s Board of Directors.
<o:p></o:p>Whilst
that action was pending, the 4th interested party applied to the
court to stay execution of the consent judgment pending the determination of
that case. The High Court, presided over by Koomson J., granted the application
on terms that the 4th interested party should pay the principal sum,
a little over GH₵19
million within a given period. These conditions were duly satisfied so the stay
was in place for the duration of that case before the High Court.<o:p></o:p>The
applicant herein applied to the High Court to dismiss the writ seeking to set
aside the consent judgment, the reason being that it disclosed no reasonable
cause of action. In a reasoned ruling dated 17th April 2015, the
High Court, presided over by Asiedu J., allowed the application to dismiss the
action seeking to set aside the consent judgment. In short the court held there
was no reasonable cause of action disclosed by the writ of summons.<o:p></o:p>The
4th interested party filed an appeal to the Court of Appeal against
the dismissal of their writ, and this appeal is still pending before that
court. The 4th interested party subsequently filed an application to
the High Court for a stay of execution of the consent judgment pending appeal
against Asiedu J’s decision of 17th April 2015. This application was
placed before Koomson J.&nbsp; On 27 May 2015,
Koomson J. delivered a ruling which has become a bit problematic as to its
interpretation and import. Thus for its full force and effect, we would
reproduce the relevant part here:<o:p></o:p>