EMMANUEL ASANTE vs. DANIEL KWADWO FORDWOUR& ANOR AND FIRST TRUST SAVINGS AND LOANS LIMITED [2017]DLHC4053

EMMANUEL ASANTE vs. DANIEL KWADWO FORDWOUR& ANOR AND FIRST TRUST SAVINGS AND LOA... [2017]DLHC4053

Date	2017-01-31
Suit No.	SUIT NO. INTS 31/2016
Citation No.	[2017]DLHC4053

DR. RICHMOND OSEI-HWERE JUSTICE OF THE HIGH COURT

HEARTY FOSUAA FORSON FOR CLAIMANT

OHENE AMAKWA GYAN FOR PLAINTIFF JUDGMENT CREDITOR

[2017]DLHC4053
																																						<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" >EMMANUEL ASANTE<o:p></o:p>vs.<o:p></o:p>DANIEL KWADWO
FORDWOUR&amp; ANOR AND FIRST TRUST SAVINGS AND LOANS LIMITED<o:p></o:p>&nbsp;[HIGH COURT
(COMMERCIAL DIVISION), KUMASI]<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. INTS 31/2016&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; DATE: 31ST JANUARY, 2017<o:p></o:p>

</div>COUNSEL
<o:p></o:p>HEARTY FOSUAA FORSON FOR
CLAIMANT <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">

</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;margin-left:0in;margin-right:.2in">

</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;
padding:0in 0in 1.0pt 0in;margin-left:0in;margin-right:.2in">

<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">JUDGMENT<o:p></o:p>

</div>In this interpleader suit
the claimant has claimed ownership of a Toyota Corolla vehicle with
registration number AS 6362 – 13 which the Judgment Creditor had caused same to
be attached in execution of a prior judgment.<o:p></o:p>The claimant had filed an
affidavit of interest in which an officer of the claimant company had stated
among others:<o:p></o:p>“
4. That the Plaintiff/Judgment creditor is a Director of Super G7 Company
Limited which is a customer of the claimant<o:p></o:p>5.
That on the 18th of December 2015 Super G7 Company Limited applied
for and was granted a loan facility of GHS 1,000,000.00 (One Million Ghana
Cedis) from the Claimant.<o:p></o:p>6.
That as part of the collateral from Super G7 Company Limited to secure the
repayment of the loan facility, the Plaintiff/ Judgment- debtor surrendered his
Toyota Corolla with registration number AS 6362 13.<o:p></o:p>7.
That subsequently the Plaintiff/ Judgment- Debtor transferred his ownership in
the above mentioned vehicle to the Claimant. ( Attached is a copy of the Form C
evidencing the transfer and marked as Exhibit “FS 1”).<o:p></o:p>8.
That the parties to the said loan facility also executed a series of credit
facility agreement to that effect in which the Plaintiff/ Judgment- Debtor
appended his signature in his capacity as a guarantor. (Attached is a copy of
the said credit Facility Agreement marked ass Exhibit “FS 2”).<o:p></o:p>9.
That the vehicle in dispute which has been attached in execution therefore
belongs to the claimant and same cannot be attached by the Defendant / Judgment
Creditor.”<o:p></o:p>The judgment creditor also
filed an affidavit in opposition disputing the claim.<o:p></o:p>The court proceeded to
take evidence to determine the true ownership of the vehicle in question. <o:p></o:p>Samuel Danquah, an officer
of the claimant company testified on behalf of the claimant. He virtually
repeated his averments made in his affidavit of interest.&nbsp; He told the court that he is currently the
Branch Manager of the Adehyeman Branch of the claimant company and that while
he was with the Moro Market Branch of the company, Super G7 applied for a loan
facility of GHC 1,000,000 from the claimant. The loan facility was granted to
the said Super G7 Company subject to the provision of adequate collateral to
secure its repayment.&nbsp; The properties
used as collateral included the vehicle owned by the Plaintiff.&nbsp; Mr. Danquah tendered a number of documents in
support of the Claimant’s case.<o:p></o:p>Exhibit ‘A’ is the first
tranche of the Credit Facility Agreement.&nbsp;
It is dated 18th December, 2015.&nbsp; Exhibits ‘B’ and ‘C’ are agreements in
respect of the second and third tranches of the said loan facility. These
documents are dated 19th February, 2016 and 4th July,
2016 respectively.<o:p></o:p>Among the securities
listed in Exhibits ‘A’, ‘B’ and ‘C’ was the Toyota Corolla vehicle with
registration number AS 6362 – 13 in the name of Emmanuel Asante, the plaintiff
in the substantive suit.<o:p></o:p>From the evidence, Emmanuel
Asante then went on to transfer ownership of the said Toyota Corolla vehicle to
the claimant, First Trust Savings and Loans Ltd on 11th December,
2015. (See Exhibits ‘D’ and ‘D1’).<o:p></o:p>Mr. Danquah insisted that
the vehicle has been duly t</main>