GHANA REVENUE AUTHORITY vs. SIC INSURANCE COMPANY LIMITED [2018]DLCA4832

Date	2018-10-18
Suit No.	CIVI APPEAL NO: H1/47/2018
Citation No.	[2018]DLCA4832

KORBIEH J.A. (PRESIDING)

SOWAH J.A

KWOFIE J.A.

MR. BRIGHT O. ADJEKUM FOR APPELLANT

[2018]DLCA4832
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													<main id="main" class="content" style="min-height: 60rem" >GHANA REVENUE AUTHORITY <o:p></o:p>(PLAINTIFF/RESPONDENT)<o:p></o:p>vs.<o:p></o:p>SIC INSURANCE COMPANY LIMITED <o:p></o:p>(DEFENDANT/APPELLANT)<o:p></o:p>[COURT OF APPEAL, ACCRA]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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CIVI
APPEAL NO: H1/47/2018&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 18TH OCTOBER,
2018<o:p></o:p>

</div>COUNSEL:<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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</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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KORBIEH &nbsp;J.A. (PRESIDING), SOWAH J.A, KWOFIE J.A. <o:p></o:p>

</div><o:p>&nbsp;</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:0in;margin-bottom:.0001pt;
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padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">JUDGMENT<o:p></o:p>

</div>SOWAH,
J.A.:<o:p></o:p>BACKGROUND
FACTS<o:p></o:p>This is an appeal from the
judgment of the High Court (Commercial Division) Accra dated 16th
June 2016. <o:p></o:p>The plaintiffs’ writ of summons
sought the following reliefs from the defendant:<o:p></o:p>i.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Payment
of the bond security of Gh¢5,000,000.00<o:p></o:p>ii.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest
on (i) above at the prevailing commercial bank rate from the date of notice
until date of final payment<o:p></o:p>iii.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Costs<o:p></o:p>The basis of the claim was a
Warehouse Bond issued by the defendant company guaranteeing payment of all
revenue lost arising from non-payment of customs and excise duties on goods
warehoused under bond by Novel Commodities Ghana Ltd. The Bond security was for
GH</main>