TIM GARNER & ANOTHER (PLAINTIFFS) vs. ECOBANK GHANA LTD (DEFENDANT) [2017]DLHC7250

Date	2017-12-22
Suit No.	SUIT NO. CM/0018/16
Citation No.	[2017]DLHC7250

MRS. AKUA SARPOMAA AMOAH J

DARKOA AKROFI – AMANOR AND AKUA ASARE – MIREKU HOLDING BRIEF FOR

ISAAC OFOSU BOATENG FOR THE DEFENDANT

[2017]DLHC7250
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													<main id="main" class="content" style="min-height: 60rem" >TIM GARNER &amp; ANOTHER<o:p></o:p>(PLAINTIFFS)<o:p></o:p>vs.<o:p></o:p>ECOBANK GHANA LTD<o:p></o:p>(DEFENDANT)<o:p></o:p>[HIGH COURT, ACCRA]<o:p></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:0in;margin-bottom:.0001pt;
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solid windowtext 1.5pt;padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">SUIT NO. CM/0018/16 &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;DATE: 22ND DECEMBER, 2017<o:p></o:p>

</div>COUNSEL:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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DARKOA AKROFI –
AMANOR AND AKUA ASARE – MIREKU HOLDING BRIEF FOR ISAAC OFOSU BOATENG FOR THE
DEFENDANT <o:p></o:p>

</div>CORAM:<o:p></o:p>MRS.
AKUA SARPOMAA AMOAH, J<o:p></o:p><div style="mso-element:para-border-div;border-top:solid windowtext 1.5pt;
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<p class="MsoNormal" align="center" style="margin:0in;margin-bottom:.0001pt;
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0in;mso-padding-alt:1.0pt 0in 1.0pt 0in">JUDGMENT<o:p></o:p>

</div>The Plaintiffs are
Shareholders and Directors of AMG West Africa Ltd. (AMG) a Ghanaian registered
company licensed to import fertilizer into Ghana.&nbsp; By a writ dated the 12th day of
January, 2016, the Plaintiffs claimed against the Defendant for:&nbsp; <o:p></o:p>&nbsp;<o:p></o:p>a)<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp; Recovery
of the sum of One Hundred and Forty Six Thousand Seventy Five US Dollars
(US$146,075.00) being the outstanding balance owed the Plaintiffs by the
Defendant.&nbsp; <o:p></o:p>b)<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp; Interest
on the said amount from July 2014 till date of final payment. <o:p></o:p>c)<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp; Damages
of breach of contract. <o:p></o:p>d)<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp; Costs.&nbsp; <o:p></o:p>&nbsp;<o:p></o:p>It is the case of
the Plaintiffs that they, sometime in June 2012, together with one Ernest Kwasi
<o:p></o:p>Appiah (Ernest)
formed the limited liability company AMG.&nbsp;
In the year 2013, the said company was awarded a contract by the
Ministry of Food and Agriculture (MOFA) to import 16,000 metric tons of
fertilizer into this country.&nbsp; To
facilitate this importation, Enepa Ventures Limited (Enepa), also a Limited
Liability Company acting by its shareholder, Ernest, obtained Letters of Credit
from the Defendant bank. However, following a delay on the part of MOFA in
effecting payment, the Defendant proposed that AMG assign all its receivables
from MOFA to it.&nbsp; Plaintiffs aver that
they initially rejected this proposal but subsequently gave in and signed the
assignment of receivables after the Defendant acting through one Loretta
Sarpong, the manager of its Kumasi stadium branch, agreed to pay directly to
Plaintiffs, a total amount of Three Hundred and Forty Six Thousand Seventy
Five US Dollars (US$346,075.00) as consideration for assigning all
their share of receivables from MOFA to the Defendant.&nbsp; By the terms of the agreement, the said
amount of US$346,075.00 was to be paid in two tranches, specifically, an
amount of One Hundred and Seventy Three Thousand Thirty Seven US Dollars Fifty
Cents (US$173,037.50) upon the execution of </main>