1ST ATLANTIC BANK GH LTD vs. K. SARFO KANTANKA LTD & ANOR [2017]DLHC7293

Date	2017-11-22
Suit No.	SUIT NO. BFS/300/12
Citation No.	[2017]DLHC7293

HIS LORDSHIP GEORGE K. KOOMSON (J).

ROBERT A. AGBENU FOR PLAINTIFF

EMMANUEL ADDAI FOR DEFENDANTS

[2017]DLHC7293
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													<main id="main" class="content" style="min-height: 60rem" >1ST
ATLANTIC BANK GH LTD<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>K. SARFO
KANTANKA LTD &amp; ANOR<o:p></o:p>(DEFENDANTS)<o:p></o:p>[HIGH COURT (COMMERCIAL
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">

SUIT NO. BFS/300/12&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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 NOVEMBER, 2017<o:p></o:p>

</div>COUNSEL: <o:p></o:p>ROBERT
A. AGBENU FOR PLAINTIFF<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">

EMMANUEL
ADDAI FOR DEFENDANTS<o:p></o:p>

</div>CORAM:<o:p></o:p>HIS
LORDSHIP GEORGE K. KOOMSON (J).<o:p></o:p><div style="mso-element:para-border-div;border-top:solid windowtext 1.5pt;
border-left:none;border-bottom:solid windowtext 1.5pt;border-right:none;
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<p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt;
text-align:center;line-height:115%;border:none;mso-border-top-alt:solid windowtext 1.5pt;
mso-border-bottom-alt:solid windowtext 1.5pt;padding:0in;mso-padding-alt:1.0pt 0in 1.0pt 0in">JUDGMENT<o:p></o:p>

</div>By its Writ of Summons, the Plaintiff is claiming
against Defendants jointly and severally, the following reliefs:<o:p></o:p><span lang="EN-GB" 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;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The
repayment of the sum of Four Hundred and Seventy Two Thousand Four Hundred and
Fifty Nine Ghana Cedis (GH¢472,459.00) being the accumulated amount due and
owed Plaintiff as at 19th day of October, 2012 with respect to the
loan facilities granted defendants.<o:p></o:p><span lang="EN-GB" 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;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The
payment by the 2nd and 3rd defendants of the sum of Two
Hundred and Sixty Five Thousand Ghana Cedi (GH¢265,000.00) being the amount
they guaranteed to pay on demand in respect of the 1st defendant’s
outstanding indebtedness to Plaintiff.<o:p></o:p><span lang="EN-GB" 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;">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest
on the said sum at the Commercial Bank lending rate from 20th
October, 2012 till date of final payment; and or <o:p></o:p><span lang="EN-GB" 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;">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The
Judicial Sale of the Managing Director’s residential property situate at
Aplaku, Accra used as security for the repayment of the said credit facility.<o:p></o:p><span lang="EN-GB" 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;">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Costs.<o:p></o:p>The Defendants, also in a counterclaim, asked for
the following reliefs:-<o:p></o:p><span lang="EN-GB" 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;
Damages
for breach of the Agreement between the Plaintiff and 1st defendant
under which Plaintiff undertook to finance 1st Defendant’s business.<o:p></o:p>