DONEWEL LIFE COMPANY LIMITED vs. E.M. CAPITAL PARTNERS LIMITED [2017]DLHC4028

Date	2017-07-11
Suit No.	SUIT NO. GJ/109/201
Citation No.	[2017]DLHC4028

KWEKU T. ACKAAH-BOAFO JUSTICE OF THE HIGH COURT

MR. JOHN DARKO FOR THE PLAINTIFF/APPLICANT

MR. KWABENA GYAMFI NIMAKO FOR THE DEFENDANT/RESPONDENT

[2017]DLHC4028
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													<main id="main" class="content" style="min-height: 60rem" >DONEWEL LIFE COMPANY
LIMITED<o:p></o:p>vs.<o:p></o:p>E.M. CAPITAL PARTNERS LIMITED<o:p></o:p>&nbsp;[HIGH COURT (GENERAL JURISDICTION
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;margin-left:0in;margin-right:.2in">

SUIT&nbsp;NO.
GJ/109/201&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 11TH JULY, 2017<o:p></o:p>

</div>COUNSEL:<o:p></o:p>MR. JOHN DARKO FOR THE
PLAINTIFF/APPLICANT <o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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MR.
KWABENA GYAMFI NIMAKO FOR THE DEFENDANT/RESPONDENT <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;
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KWEKU T. ACKAAH-BOAFO JUSTICE OF THE HIGH COURT<o:p></o:p>

</div><p class="MsoNormal" align="center" style="margin-top:1.45pt;margin-right:0in;
margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:center;
mso-pagination:none;mso-layout-grid-align:none;text-autospace:none"><o:p>&nbsp;</o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<p class="MsoNormal" align="center" style="margin-top:1.45pt;margin-right:0in;
margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;text-align:center;
mso-pagination:none;mso-layout-grid-align:none;text-autospace:none;border:none;
mso-border-bottom-alt:solid windowtext 1.5pt;padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">RULING<o:p></o:p>

</div>Introduction:<o:p></o:p>[1]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This
is an application by Plaintiff/Applicant herein praying that summary judgment
be entered against the Defendant/Respondent for the recovery of the following:-<o:p></o:p><span lang="EN-CA" 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;&nbsp;&nbsp; The sum of GH¢ 1,826,426.26 being amount invested with the Defendant and
interest as at 23rd January 2017;<o:p></o:p><span lang="EN-CA" 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;&nbsp; Interest on the sum of GH¢ 1,826,426.26 at the rate of 32%
from 24th January 2017 till the date of final payment.<o:p></o:p><span lang="EN-CA" 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;&nbsp;&nbsp;&nbsp; Cost; and<o:p></o:p><span lang="EN-CA" 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;&nbsp;&nbsp; Any other (s) (sic) that honourable
court may deem fit.<o:p></o:p>[2]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
grounds upon which the instant application is premised are catalogued in a 19
paragraph supporting affidavit sworn to by John Darko, Counsel for the
Plaintiff accompanying the motion paper.&nbsp;
The thrust of the Plaintiff/Applicant’s case is that in or around December
24, it made a fixed income investment of GH¢
1,000,000 with the Defendant which matured to GH¢ 1,320,000 on December 7, 2015. The Applicant says upon maturity
it wrote to the Defendant to redeem the investment but the Defendant was urged
on the Plaintiff to rollover the investment for further 91 days and the
Plaintiff did. Attached as Exhibit A1
to the affidavit) is </main>