DR ARCHIBALD FREDERICK MCKENZIE BADO VS. GOLD COAST FUND MANAGEMENT LTD [2018]DLCA9933

Date	2018-12-13
Suit No.	SUIT NO. OCC 25/2019
Citation No.	[2018]DLCA9933

HIS LORDSHIP JUSTICE DR. RICHMOND OSEI-HWERE

MARIAM AGYEMAN GYASI JAWHARY (MRS.) FOR THE PLAINTIFF

EMMANUEL AMOAH FOR THE DEFENDANT

[2018]DLCA9933
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													<main id="main" class="content" style="min-height: 60rem" >DR ARCHIBALD FREDERICK
MCKENZIE BADO<o:p></o:p>(PLAINTIFF)<o:p></o:p>VS.<o:p></o:p>GOLD COAST FUND MANAGEMENT
LTD<o:p></o:p>(DEFENDANT)<o:p></o:p>[HIGH COURT, KUMASI]<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0cm 0cm 1pt;">

SUIT NO. OCC 25/2019 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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:
13TH DECEMBER, 2018<o:p></o:p>

</div>COUNSEL:<o:p></o:p>MARIAM
AGYEMAN GYASI JAWHARY (MRS.) FOR THE PLAINTIFF<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0cm 0cm 1pt;">

EMMANUEL
AMOAH FOR THE DEFENDANT<o:p></o:p>

</div>CORAM:<o:p></o:p>HIS LORDSHIP JUSTICE DR. RICHMOND OSEI-HWERE<o:p></o:p><div style="border-top-width: 1.5pt; border-top-color: windowtext; border-left: none; border-bottom-width: 1.5pt; border-bottom-color: windowtext; border-right: none; padding: 1pt 0cm;">

<p class="MsoNormal" align="center" style="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:0cm;mso-padding-alt:1.0pt 0cm 1.0pt 0cm">RULING<o:p></o:p>

</div>On
22nd October, 2018, the Plaintiff filed a writ against the defendant
for the following reliefs:<o:p></o:p>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order for the payment of the total sums
GHC328,127.43 (Three Hundred and Twenty-Eight Thousand, One Hundred and
twenty-seven Ghana Cedis, forty-three pesewas) being the principal sum placed
by the Plaintiff with the Defendant as a structured finance investment and
which investment matured on 5th September 2018 and ought to have
been paid to him at the said date of 6th September 2018 but which
sum the Defendant has failed to pay despite repeated demand since 10th
September 2018.<o:p></o:p>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order for the payment of all sums due the
Plaintiff from the Defendant on the sum of GHC328,127.43 (Three Hundred and
Twenty-Eight Thousand, One Hundred and twenty-seven Ghana Cedis, forty-three
pesewas) stated I relief (a) supra since 6th September 2018.<o:p></o:p>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order for the payment of the sum of
GH50,000.00 (Fifty Thousand Ghana Cedis) and accrued interest thereon invested
by the Plaintiff with the Defendant on 24th August 2018 till date of
final judgment.<o:p></o:p>d.&nbsp;&nbsp;&nbsp;&nbsp;
An order for the payment of interest on the
principal sum of GHC328,127.43 (Three Hundred and Twenty-Eight Thousand, One
Hundred and twenty-seven Ghana Cedis, forty-three pesewas) at the prevailing
commercial bank lending rate at the date of the judgment or in the alternative
at the rate of 27% being the rate of interest the Defendant was paying to the
Plaintiff on his structured investment with the Defendant.<o:p></o:p>e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Cost including legal fees<o:p></o:p>In
this application, the plaintiff/applicant is praying this court for an order
entering judgment in default of defence pursuant to Order 13 rule 1 of the High
Court (Civil Procedure Rules), 2004, CI 47.<o:p></o:p>The
grounds of the application are contained in the affidavit in support filed by
the applicant on 28/11/2018.<o:p></o:p>The
defendant/respondent failed or refused to file an affidavit in response.
However, after counsel for the applicant had moved the motion, counsel for the
respondent responded on a point of law.<o:p></o:p>Counsel
for the respondent took aim at the propriety of the application as well as the
processes filed prior to the instant motion. Counsel quoted the Revenue
Administration Act, 2016 (Act 915), <a name="_Hlk532410002">section 11(2) </a>and
submitted that per the statutory provision, the plaintiff/applicant ought to
have endorsed his Tax Identification Number (TIN) on the writ of summons,
statement of claim as well the processes relating to the instant motion on
notice. He submitted that the applicant’s noncompliance with section 11(2)
supra makes the processes filed so far </main>