ACTIVITY VENTURE FINANCE (PLAINTIFF) vs. FREDNA GHANA LIMITED (DEFENDANT) [2017]DLHC7354

Date	2017-04-07
Suit No.	SUIT NO.: BFS/19/2013
Citation No.	[2017]DLHC7354

HIS LORDSHIP SAMUEL K. A. ASIEDU J.

MR. K. ANABA FOR MR. CHARLES OKYERE FOR THE PLAINTIFF

[2017]DLHC7354
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													<main id="main" class="content" style="min-height: 60rem" >ACTIVITY VENTURE FINANCE<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>FREDNA GHANA LIMITED<o:p></o:p>(DEFENDANT)<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;
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SUIT
NO.: BFS/19/2013&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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:
7TH APRIL, 2017<o:p></o:p>

MR. K. ANABA FOR MR. CHARLES OKYERE FOR THE
PLAINTIFF <o:p></o:p>

</div>CORAM:<o:p></o:p>HIS LORDSHIP SAMUEL K. A.
ASIEDU, 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-bottom:0in;margin-bottom:.0001pt;
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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 a writ of summons issued on the 5th
March 2013, the plaintiff claims from the defendant:<o:p></o:p>(a)&nbsp;&nbsp; &nbsp;Recovery of
the sum of GH¢60,971 (made up of GH¢40,542.00 as principal on the credit
facilities granted to the Defendant and GH¢20,429.00 as accrued interest on the
principal loans from 29th September, 2009 to September, 2012).<o:p></o:p>(b)&nbsp;&nbsp; &nbsp;Interest on
the sum of GH¢60,971 at the prevailing commercial bank rate with effect from 1st
January, 2013 to date of final payment.<o:p></o:p>(c)&nbsp;&nbsp;&nbsp; &nbsp;Cost
incurred in this matter.<o:p></o:p>(d)&nbsp; &nbsp;Any other
order(s) as this Honourable Court may deem fit.<o:p></o:p>&nbsp;After
service of the writ and its accompanying statement of claim on the defendant
and after the entry of appearance and the filing of a statement of defence by
the defendant, the matter was referred for pre-trial settlement. However, when
pre-trial settlement broke down, the following issues were set down for
determination at the trial: <o:p></o:p>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Whether or not the Plaintiff invested the total sum
of GH¢78,842.00 in the Defendant Company.<o:p></o:p>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Whether the Plaintiff is entitled to recover the
sum of GH¢61,747 from the Defendant.<o:p></o:p>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Whether the Plaintiff is entitled to its claims.<o:p></o:p>4.