THE ROYAL BANK vs. HANDIMAN SERVICES LIMITED & 2 OTHERS [2018]DLHC10119

Date	2018-01-22
Suit No.	SUIT NO. CM/BFS/0790/16
Citation No.	[2018]DLHC10119

JUSTICE GEORGE BUADI J.

ANDREW APPAU OBENG (HOLDING THE BRIEF OF NAADEI AMARTEY) FOR PLAINTIFF

NAA ODOFOLEY NORTEY FOR DEFENDANTS

[2018]DLHC10119
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													<main id="main" class="content" style="min-height: 60rem" >THE ROYAL BANK<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>HANDIMAN SERVICES LIMITED &amp; 2
OTHERS<o:p></o:p>(DEFENDANTS)<o:p></o:p>[HIGH COURT
(COMMERCIAL DIVISION FIVE) ACCRA]<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;">

<p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt;
text-align:center;line-height:115%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">SUIT
NO. CM/BFS/0790/16&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 22NDJAN 2018<o:p></o:p>

</div>COUNSEL:<o:p></o:p>ANDREW APPAU OBENG
(HOLDING THE BRIEF OF NAADEI AMARTEY) FOR 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;">

<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:115%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">NAA
ODOFOLEY NORTEY FOR DEFENDANTS<o:p></o:p>

</div>CORAM:<o:p></o:p>JUSTICE GEORGE BUADI J.<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="margin-bottom:0cm;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:0cm;mso-padding-alt:1.0pt 0cm 1.0pt 0cm">JUDGMENT<o:p></o:p>

</div>&nbsp;1.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Introduction<o:p></o:p>1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plaintiff and 1st defendant are
duly registered limited liability companies doing business in Ghana; plaintiff
is engaged in banking, whilst 1st defendant is in construction,
import and export of general goods, and that 2nd and 3rd
defendants are its directors. Pursuant to application for overdraft facility by
1st defendant, acting by its directors, i.e. the other two defendants,
the plaintiff bank, subject to agreed terms granted and made available
GH¢500,000<a href="file:///C:/Users/aggie/Desktop/2020-21/Criminal/Judgt%201%20-%20The%20Royal%20Bank%20(2021_01_25%2010_26_20%20UTC).docx#_ftn1" name="_ftnref1" title="">[1]</a> to
1st defendant to improve on its working capital. <o:p></o:p>&nbsp;According to
plaintiff, 1st defendant had failed to abide by the terms in
repaying the sum granted under the facility, and that their nonresponse to
demand notices had compelled it to issue the writ of summons against defendants
jointly and severally for reliefs as endorsed on the writ:<o:p></o:p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p>a&nbsp;&nbsp;&nbsp; [R]ecovery of the sum of Five Hundred and Fifty Eight Thousand,
Two Hundred and Seventy Eight Ghana Cedis and Fifty Six pesewas
(GH¢558,278.56).<o:p></o:p>b&nbsp;&nbsp;&nbsp; Interest on the above sum of money at the contractual rate of
38.9% per annum <o:p></o:p>together with 10% compound interest per annum above
the contractual rate on the default amount.<o:p></o:p>c&nbsp;&nbsp;&nbsp; Cost inclusive of Solicitors fees assessed at 10% of the amount
outstanding.<o:p></o:p>&nbsp;2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Statement
of case of the parties<o:p></o:p>2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plaintiff’s case<o:p></o:p>Plaintiff states
that on 11 March 2015, 1st defendant acting per 2nd
defendant applied for an overdraft facility of GH¢500,000 to enable it supplement
its working capital. On 27 April 2015, plaintiff approved the facility, and
that on 29 April 2015, the board of directors of 1st defendant by a
resolution accepted grant of the facility.<o:p></o:p>&nbsp;