NDK FINANCIAL SERVICES LTD vs. TEMA YOUTH FOOTBALL CLUB AND 2 OTHERS [2017]DLHC3674

Date	2017-08-23
Suit No.	SUIT NO. CM/0020/15
Citation No.	[2017]DLHC3674

GEORGE K. KOOMSON JUSTICE OF THE HIGH COURT

[2017]DLHC3674
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													<main id="main" class="content" style="min-height: 60rem" >NDK FINANCIAL SERVICES LTD<o:p></o:p>vs.<o:p></o:p>TEMA YOUTH FOOTBALL CLUB AND 2 OTHERS<o:p></o:p>[HIGH COURT (COMMERCIAL DIVISION), ACCRA]<o:p></o:p>SUIT NO. CM/0020/15&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 23RD
AUGUST, 2017<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<o:p>&nbsp;</o:p>

</div>CORAM:<o:p></o:p>GEORGE K. KOOMSON JUSTICE OF THE HIGH COURT <o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<o:p>&nbsp;</o:p>

</div>RULING<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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</div>I have listened to Counsel Godwin Tamakloe for and on behalf of Defendants/Judgment/Debtors.
I have given consideration to his plea to allow the judgment debt to be paid in
instalment. It is my considered opinion that, in as much as the Execution
Creditor requires to be protected, it should not be seen and done to the collapse
of the borrower debtor. In the circumstance, I hereby grant the prayer of
counsel for defendant/debtors. <o:p></o:p><o:p>&nbsp;</o:p>Accordingly, it is ordered that the garnishee 1st Atlantic
Bank, Tema Community 1 Branch should pay to the Plaintiff/Judgment/Creditor the
judgment debt from accounts of Tema Youth Sporting Club as long as there are
funds in the accounts as follows: <o:p></o:p><p class="MsoListParagraphCxSpFirst" style="text-align:justify;text-indent:-.25in;
mso-pagination:none;mso-list:l0 level1 lfo1;border:none;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;
mso-border-shadow:yes">·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
1st instalment of
GH¢61,984.09 to be paid on the 7th September, 2017 <o:p></o:p><p class="MsoListParagraphCxSpMiddle" style="text-align:justify;text-indent:-.25in;
mso-pagination:none;mso-list:l0 level1 lfo1;border:none;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;
mso-border-shadow:yes">·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
2nd instalment of
GH¢61,984.09 is to be paid on or before 2nd October, 2017 <o:p></o:p><p class="MsoListParagraphCxSpMiddle" style="text-align:justify;text-indent:-.25in;
mso-pagination:none;mso-list:l0 level1 lfo1;border:none;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;
mso-border-shadow:yes">·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
3rd instalment of
GH¢61,984.09 to be paid on or before 1st November, 2017 <o:p></o:p><p class="MsoListParagraphCxSpLast" style="text-align:justify;text-indent:-.25in;
mso-pagination:none;mso-list:l0 level1 lfo1;border:none;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;
mso-border-shadow:yes">·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The last instalment of
GH¢61,984.09 to be paid on or before 1st December, 2017. <o:p></o:p><o:p>&nbsp;</o:p>The failure of the defendant/judgment/debtor to ensure sufficient
funds are in the accounts of Tema Youth Sporting Club to enable the garnishee 1st
Atlantic Bank to pay Plaintiff/Judgment/Creditor in accordance with the
said arrangement, any balance outstanding becomes due and the
plaintiff/judgment/creditor shall have the right to proceed to execution with
the leave of the court. <o:p></o:p>

<o:p>&nbsp;</o:p></main>