ACTIVITY VENTURE FINANCE vs. FREDNA GHANA LIMITED [2017]DLHC1284

Date	2017-04-07
Suit No.	SUIT NO.: BFS/19/2013
Citation No.	[2017]DLHC1284

SAMUEL K. A. ASIEDU J.

MR. K. ANABA FOR MR. CHARLES OKYERE FOR THE PLAINTIFF

[2017]DLHC1284
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													<main id="main" class="content" style="min-height: 60rem" >ACTIVITY VENTURE FINANCE<o:p></o:p>vs.<o:p></o:p>FREDNA GHANA
LIMITED<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;
padding:0cm 0cm 1.0pt 0cm">

&nbsp;SUIT
NO.: BFS/19/2013&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 7TH
APRIL, 2017<o:p></o:p>

</div>COUNSEL:<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">

MR. K. ANABA FOR MR. CHARLES OKYERE FOR THE
PLAINTIFF <o:p></o:p>

</div>CORAM: <o:p></o:p>HIS
LORDSHIP SAMUEL K. A. ASIEDU 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 0cm 1.0pt 0cm">

<p class="MsoNormal" align="center" style="text-align:center;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">JUDGMENT<o:p></o:p>

</div>By a writ of summons issued on the 5th
March 2013, the plaintiff claims from the defendant:<o:p></o:p><span lang="EN-US" 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)&nbsp;&nbsp;
&nbsp;Recovery of
the sum of GH¢60,971 (made up of GH¢40,542.00 as principal on the credit
facilities granted to the Defendant and GH¢20,429.00 as accrued interest on the
principal loans from 29th September, 2009 to September, 2012).<o:p></o:p><span lang="EN-US" 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)&nbsp;&nbsp;
&nbsp;Interest on
the sum of GH¢60,971 at the prevailing commercial bank rate with effect from 1st
January, 2013 to date of final payment.<o:p></o:p><span lang="EN-US" 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)&nbsp;&nbsp;
&nbsp;Cost
incurred in this matter.<o:p></o:p><span lang="EN-US" 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)&nbsp;
&nbsp;Any other
order(s) as this Honourable Court may deem fit.<o:p></o:p>&nbsp;After service of the writ and its accompanying
statement of claim on the defendant and after the entry of appearance and the
filing of a statement of defence by the defendant, the matter was referred for
pre-trial settlement. However, when pre-trial settlement broke down, the
following issues were set down for determination at the trial: <o:p></o:p><span lang="EN-US" 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;">1.&nbsp;&nbsp;&nbsp;&nbsp;
Whether or not the Plaintiff invested the total sum
of GH¢78,842.00 in the Defendant Company.<o:p></o:p><span lang="EN-US" 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;">2.&nbsp;&nbsp;&nbsp;&nbsp;