IFS FINANTIAL SERVICES vs. TECHCOM VISIONS AND OTHERS [2017]DLHC3321

Date	2017-05-31
Suit No.	SUIT NO. CM/BFS/0555/16
Citation No.	[2017]DLHC3321

ERIC K. BAFFOUR ESQ JUSTICE OF THE HIGH COURT

JASMINE ASIEDU MS FOR KWAME AKYIANU ESQ FOR PLAINTIFF/JUDGMENT CREDITOR PRESENT

[2017]DLHC3321
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													<main id="main" class="content" style="min-height: 60rem" >IFS FINANTIAL SERVICES<o:p></o:p>vs.<o:p></o:p>TECHCOM VISIONS AND OTHERS<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:0in 0in 1.0pt 0in">

SUIT NO.
CM/BFS/0555/16&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;31ST
MAY, 2017<o:p></o:p>

JASMINE ASIEDU MS FOR KWAME AKYIANU ESQ FOR
PLAINTIFF/JUDGMENT CREDITOR PRESENT<o:p></o:p>

</div>CORAM:<o:p></o:p>ERIC K. BAFFOUR ESQ JUSTICE OF THE HIGH COURT<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="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">RULING<o:p></o:p>

</div>On the 12th of January, 2017 the court
granted an application for final judgment against 1st, 2nd,
3rd and 4th defendants in default of defence for:<o:p></o:p><span 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;;
mso-ansi-language:EN-US">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An order for the recovery of Gh¢32.845.65 being the
collective indebtedness of the defendants to the plaintiff as at 25th
July, 2016 in respect of a loan facility dated 3rd November, 2011
granted by the plaintiff to the defendant.<o:p></o:p><span 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;;
mso-ansi-language:EN-US">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest on the sum at the actual interest rate of 3%
per month from 26th July, 2016 till date of final payment<o:p></o:p><span 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;;
mso-ansi-language:EN-US">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Penal interest sum at the agreed penal rate of 7.5%
per month from 26th July, 2016 till date of final payment<o:p></o:p><span 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;;
mso-ansi-language:EN-US">d.&nbsp;&nbsp;&nbsp;&nbsp; An order for the recovery of Gh¢335.547.44 being the
collective indebtedness of the defendants to the plaintiff as at 25th
July 2016 in respect of a loan facility dated 28th November, 2011
granted by plaintiff to the 1st defendant<o:p></o:p><span 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;;
mso-ansi-language:EN-US">e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest on the said sum at the actual interest rate
of 3% per month from 26th July 2016 till date of final payment.<o:p></o:p><span 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;;
mso-ansi-language:EN-US">f.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Penal interest on
the said sum at the agreed penal rate of 7.5% per month from July, 2016 till
date of final payment<o:p></o:p><span 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;;
mso-ansi-language:EN-US">g.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An order for the recovery of Gh¢374.366.60 being the
collective indebtedness of the defendants to the plaintiff as at 25th
July 2016 in respect of a loan facility dated 22nd March 2012
granted by plaintiff to defendant.<o:p></o:p><span 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;;
mso-ansi-language:EN-US">h.<</main>