GHANA GROWTH FUND LTD vs. TANTRA HILLS ESTATES DEV. LTD AND COL KWAKU ADADE TAKYI [2018]DLHC3338

GHANA GROWTH FUND LTD vs. TANTRA HILLS ESTATES DEV. LTD AND COL KWAKU ADADE TAKY... [2018]DLHC3338

Date	2018-11-09
Suit No.	CIVIL APPEAL NO.CM/0310/2016
Citation No.	[2018]DLHC3338

SAMUEL K. A. ASIEDU JUSTICE OF THE HIGH COURT

FREDRICK BOAMAH ESQ. FOR THE PLAINTIFF.

ESTHER ASANTEWAA HANSON FOR DANIEL O. NYANPONG ESQ. FOR DEFENDANT.

[2018]DLHC3338
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													<main id="main" class="content" style="min-height: 60rem" >GHANA GROWTH FUND LTD<o:p></o:p>vs.<o:p></o:p>TANTRA HILLS ESTATES
DEV. LTD AND COL KWAKU ADADE TAKYI<o:p></o:p>&nbsp;[HIGH COURT (COMMERCIAL
DIVISION), ACCRA]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

CIVIL APPEAL NO.CM/0310/2016&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 9TH
NOVEMBER, 2018<o:p></o:p>

</div>COUNSEL:<o:p></o:p>FREDRICK BOAMAH ESQ., FOR
THE PLAINTIFF.<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

</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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JUDGEMENT<o:p></o:p>

</div><o:p>&nbsp;</o:p>By
a writ of summons issued on the 24th April 2016, the plaintiff
herein claims against the defendants jointly and severally for:<o:p></o:p>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An order for specific performance of the processing
of the facility agreement between the Plaintiff and the Defendants in respect
of the amount of Four Million Two Hundred and Twenty Six Thousand Seven Hundred
and Eleven Ghana Cedis Seventeen pesewas (Gh¢4,226,711.17) paid to FBN Bank on
behalf of the Defendants.<o:p></o:p>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An order for the recovery of the sum of Four
Million Two Hundred and Twenty Six Thousand Seven Hundred and Eleven Ghana
Cedis Seventeen pesewas (GH¢4, 226,711.17) being the outstanding balance of the
money paid on behalf of the Defendants to FBN Bank.<o:p></o:p>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest on the Four Million Two Hundred and Twenty
Six Thousand Seven Hundred and Eleven Ghana Cedis Seventeen pesewas
(GH¢4,226,711.17) from 27th August 2015 at the rate of 48% per
annum.<o:p></o:p>d.&nbsp;&nbsp;&nbsp;&nbsp; Cost including Legal fees.<o:p></o:p>After
the entry of appearance, the defendants filed a defence which was later amended
in which they counterclaimed against the plaintiff for:<o:p></o:p>i. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General
damages for breach of contract.<o:p></o:p>ii.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recovery
of the sum of Gh¢ 772, 274.00 being the interest accrued on the &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;purchase price from 15th
June to 27th August 2015 at the prevailing commercial rate due to
the delay in payment by Plaintiff.<o:p></o:p>iii.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Costs
including solicitors fees.<o:p></o:p>The
facts of the case are that the 2nd defendant put up for sale his
property situate at 23B Castle Road, Ridge, Accra. This very property was then
a subject of a mortgage to FBN Bank. One Doctor and Mrs. Nduom, allegedly,
expressed interest in the property and decided to acquire same. Negotiations
were held and later, Doctor and Mrs. Nduom got the plaintiff, a company in
which they have interest, to pay a sum of money to acquire the property. Some
months after the sale and purchase of the property the plaintiff, alleging that
it had paid more than the agreed pr</main>