UT BANK LTD. vs. NEW ERA MINING CONTRACTORS LTD. & 2 OTHERS [2017]DLHC9193

Date	2017-01-12
Suit No.	SUIT NO.BFS/153/2014
Citation No.	[2017]DLHC9193

HER LADYSHIP JUSTICE JENNIFER ABENA DADZIE

CHRISTOPHER ARCHER ESQ. WITH DENNIS-MICHAEL AYETTEY ESQ. OF ARCHER ARCHER & CO. COUNSEL FOR PLAINTIFF/APPLICANT

ADWOA ASARE OWUSU ESQ. (H/B FOR BRIGHT OKYERE AGYEKUM ESQ.) OF G. A. SARPONG & CO. COUNSEL FOR 2ND & 3RD DEFENDANTS/RESPONDENTS

[2017]DLHC9193
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													<main id="main" class="content" style="min-height: 60rem" >UT BANK LTD.<o:p></o:p>(PLAINTIFF/APPLICANT)<o:p></o:p>vs.<o:p></o:p>NEW ERA MINING CONTRACTORS LTD. &amp; 2 OTHERS<o:p></o:p>(DEFENDANTS/RESPONDENTS)<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-bottom:0cm;margin-bottom:.0001pt;
text-align:center;line-height:normal;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">SUIT NO.BFS/153/2014&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 12TH JANUARY,
2017<o:p></o:p>

</div>COUNSEL:<o:p></o:p>CHRISTOPHER ARCHER, ESQ., WITH
DENNIS-MICHAEL AYETTEY, ESQ., OF ARCHER, ARCHER &amp; CO., COUNSEL FOR
PLAINTIFF/APPLICANT<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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ADWOA
ASARE OWUSU, ESQ. (H/B FOR BRIGHT OKYERE AGYEKUM, ESQ.) OF G. A. SARPONG &amp;
CO. COUNSEL FOR 2ND &amp; 3RD DEFENDANTS/RESPONDENTS<o:p></o:p>

HER
LADYSHIP JUSTICE JENNIFER ABENA DADZIE<o:p></o:p>

</div>RULING<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<o:p>&nbsp;</o:p>

</div><o:p>&nbsp;</o:p><p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 150%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">Against the backdrop of a judgment obtained by the
Plaintiff/Applicant herein (hereinafter, the “Applicant”) on February 18, 2016
(hereinafter, the “Judgment”), against the 2nd and 3rd
Defendants/Respondents (hereinafter, the “Respondents”), who had been sued
jointly and severally with the 1st Defendant in the sum of Eight
Hundred and Forty-three Thousand, Five Hundred and Twenty-six Ghana Cedis (GH¢843,
526.96) with interest calculable thereon at the prevailing bank rate and cost
of Twenty Thousand Ghana Cedis (GH¢20,000.00), the Applicant has filed a motion
for reserve price to be determined in respect of the property of the
Respondents, described as Number 930, Adjringarnor (hereinafter, the
“Property”).<o:p></o:p><p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 150%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">It is the claim of the Applicant that an Entry of Judgment
was served on the Respondents subsequent to the Judgment and in an attempt to
execute the said Judgment, the Property was attached by writ of fifa and same
was caused to be valued.&nbsp; See Exhibit
UT1, in which the forced sale value of the Property is set at One
Million, One Hundred and Fifty-five Thousand, Seven Hundred and Fifty Ghana
Cedis (GH¢1,155,750.00).&nbsp; It is the
further case of Applicant that the Property attached was the collateral used in
securing the loan facility granted the Defendants and under the Mortgages Act,
NRCD 96, the Applicant was entitled to proceed against the collateral property.<o:p></o:p><p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 150%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;"><o:p>&nbsp;</o:p><p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 150%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">As is to be expected, the Respondents are opposed to this
application on grounds which are detailed in the affidavit sworn to by the 2nd
Defendant/Respondent in opposition to the application.&nbsp; It is the contention of the Respondents that
in a case which has been filed in the High Court, but in a Court differently
constituted, entitled Benjamin
Quarcopoome &amp; Anor v. UT Bank, [Suit
No. CM/OCC/0657/2016] Respondents have sued the Applicant herein on issues
which relate to the Property, the subject matter of this application, and if
this application for reserve price is granted, it would have the effect of
prejudicing the outcome of that suit.&nbsp; It
was argued further by Counsel for Respondents that the basis of the attachment
of the Property is wrong in law, the Applicant having failed to attach first
the properties of the 1st Defendant in satisfaction of the judgment
debt before proceeding against the Property.&nbsp;
Finally, the Respondents argue that they were misled by the fraudulent
misrepresentations of the Applicant to execute the Mortgage Deed in respect of
the Property in favour of the Applicant as collateral for the loan contracted
by 1st Defendant.<o:p></o:p><p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 150%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;"><o:p>&nbsp;</o:p><p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 150%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">