HFC BANK GHANA LTD vs. OGA FLODELA COMPANY LTD AND 2 OTHERS [2017]DLHC4110

Date	2017-03-15
Suit No.	SUIT NO. MISC/06/2017
Citation No.	[2017]DLHC4110

DR. RICHMOND OSEI-HWERE JUSTICE OF THE HIGH COURT

SULLEY SAMBIAN FOR THE PLAINTIFF/APPLICANT

KWABENA ASANTE-KROBEA FOR THE 2ND RESPONDENT

HUMPHREY OMABOE FOR THE 1ST & 3RD RESPONDENT

[2017]DLHC4110
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													<main id="main" class="content" style="min-height: 60rem" >HFC BANK GHANA LTD<o:p></o:p>vs.<o:p></o:p>OGA FLODELA COMPANY LTD AND 2 OTHERS <o:p></o:p>[HIGH COURT (COMMERCIAL DIVISION), KUMASI]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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SUIT&nbsp;NO. MISC/06/2017&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 15TH
MARCH, 2017<o:p></o:p>

</div>COUNSEL:
<o:p></o:p>SULLEY SAMBIAN FOR THE
PLAINTIFF/APPLICANT<o:p></o:p>KWABENA ASANTE-KROBEA FOR
THE 2ND RESPONDENT<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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HUMPHREY
OMABOE FOR THE 1ST &amp; 3RD 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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</div><p class="MsoNormal" align="center" style="margin-top:1.45pt;margin-right:0in;
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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>Before me is an
application filed on notice praying the Honourable Court for an order of
judicial sale of the 2nd Respondent’s property described as Plot 36
Block XI, Suame Extension, Kumasi which was used as a mortgaged for a credit
facility granted to the 1st Respondent or in the alternative, or
both, the immediate payment of an amount of GHC 1,705,813.59 to the applicant.<o:p></o:p>The grounds of the
application are contained in the affidavit in support filed on 10/11/2016 and a
supplementary affidavit filed on 08/02/2017.<o:p></o:p>The Respondents are
opposed to the application and have demonstrated the grounds in their affidavits
in opposition. They filed the respective affidavits on 14/12/2016. The 1st
and 3rd Respondents presented a joint affidavit which was deposed to
by Baah Frimpong, the 3rd Respondent while the 2nd Respondent’s
affidavit was deposed to by one Nana Frimpong.<o:p></o:p>In his oral submissions,
learned counsel for the applicant gave the background of the application by
relying on the affidavit in support of the motion. The relevant portions of the
affidavit are as follows:<o:p></o:p>3. That sometime on the 1st
of October 2014, the Applicant on the basis of an application by the 1st
Respondent for credit facilities granted a term of loan of One Million One
Hundred and Forty Six Thousand Eighty Hundred and forty Cedis and Forty ne Pesewas
(GHC 1,146,840.41).<o:p></o:p>4. The Applicant repeats the averment
in the immediately preceding paragraph and states further that the credit
facility was intended to term out an existing overdraft facility of Six Hundred
Thousand Cedis granted to the 1st Respondent in the year September
2012.<o:p></o:p>5. That about the same period stated in
the immediately preceding paragraph, the Applicant again advanced a loan
facility of Two Hundred Thousand Cedis to the 1st Respondent to
enable it purchase two Daf Trucks to augment its business operations.<o:p></o:p>6. That attached and marked Exhibits
EAQ,EAQ1 and EAQ2 are copies of the facilities referred to in paragraphs 3, 4
and 5 supra.<o:p></o:p>7. That it was the failure or refusal
of the 1st Respondent to repay the facilities granted in September
2012 that triggered the restructuring of its debts in October 2014.<o:p></o:p>8. That as collateral for the facilities
granted, the 2nd Respondent mortgaged her property described as Plot
36 Block XI Suame Extension Kumasi.<o:p></o:p>9. That attached and marked Exhibits
EAQ3 and EAQ4 are copies of the mortgaged deed and statutory declaration
executed by the 2nd Respondent respectively.<o:p></o:p>10. That even before the facilities
stated in paragraphs 3, 4 and 5 supra, the 1st Respondent had
earlier applied for credit facilities sometime in 2011.<o:p></o:p>11. That as further security for the
facilities granted to the 1st Respondent, the third Respondent
executed a joint and several guarantee in favor of the plaintiff.<o:p></o:p>12. That attached and marked Exhibit
EAQ5 is a copy of the deed of guarantee duly signed by the 3rd
Respondent.<o:p></</main>