BENJAMIN OPPONG vs. PACIFIC INTERNATIONAL LINES, BLUE FUNNEL GHANA LTD AND HULL BLYTH GHANA LTD [2018]DLHC3483

BENJAMIN OPPONG vs. PACIFIC INTERNATIONAL LINES, BLUE FUNNEL GHANA LTD AND HULL... [2018]DLHC3483

Date	2018-01-22
Suit No.	SUIT NO.CM/TRPC /0015/16
Citation No.	[2018]DLHC3483

HIS LORDSHIP ERIC KYEI BAFFOUR JUSTICE OF THE HIGH COURT

[2018]DLHC3483
																																						<div class="restriction-wrapper">
														<div class="container-lg">
															<div class="row">
																<div class="col-md-12 restricted-content">
																	<div class="restricted-content-img-wrapper">
																		<div class="lock-icon bounce-7">
																			<img class=""
																				src="https://www.dennislawgh.com/dl-assets/dl-images/lock-content.png"
																				alt="Subscription based content">
																		</div>
																	</div>
																	 
																		<a href="https://www.dennislawgh.com/login"
																		class="btn btn-primary btn-lg"
																		style="font-family: 'open sans'; text-transform: capitalize; border-radius: 8px"> 
																		Login to Read Full Case </a>
																	 
																	
																</div>
															</div>
														</div>
													</div>
													<main id="main" class="content" style="min-height: 60rem" ><a name="OLE_LINK1">BENJAMIN
OPPONG<o:p></o:p></a>vs.<o:p></o:p>PACIFIC INTERNATIONAL LINES, BLUE FUNNEL GHANA LTD AND HULL
BLYTH GHANA LTD <o:p></o:p>[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">

SUIT
NO.CM/TRPC /0015/16&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; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 22ND JANUARY, 2018<o:p></o:p>

</div>CORAM:<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">

HIS LORDSHIP ERIC KYEI BAFFOUR JUSTICE
OF THE HIGH COURT<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;
padding:0in 0in 1.0pt 0in">

RULING<o:p></o:p>

</div>On
the 5th of May, 2017, the court granted in part an application for
stay of execution of the judgment of the court delivered on the 22nd
of March, 2017 pending the appeal filed by the 1st
defendant/Judgment Debtor. The court stayed the execution of its judgment on
condition that the Defendant/Judgment Debtor paid 70% of the judgment debt to
the Registrar of the Court for same to be invested into an interest yielding
account. <o:p></o:p>By
this application the Plaintiff/Judgment Creditor/Applicant seeks for an order
for the court to vacate its order for stay of execution of the judgement debt on
the grounds as set out in the affidavit that accompanied the application.
Chancellor Oppong Kyekyeku Kohl, the lawful attorney for the Plaintiff, claim
that the judgment of the court ordered the payment of interest calculated at
the prevailing Commercial Bank lending rate &nbsp;and his checks shows that the lending rate of
the Ghana Commercial Bank was 32%.<o:p></o:p><o:p>&nbsp;</o:p>The
Applicant further depose that with the Defendant/Respondent having made a
payment of Gh¢836,990.84 on the 21st July, 2017 and by the use of
32% rate of calculation of the interest payable, the amount paid only
represented 54% of the total judgment debt and not 70%. It is further contended
that Defendant/Respondent needed to pay Ghc¢686,658.49 to make up for the 70%
of the judgment debt by the use of 32% as the interest rate.<o:p></o:p><o:p>&nbsp;</o:p>The
application has been resisted by the Defendants/Judgment Debtors/Respondents in
an affidavit in opposition deposed to by Juliet Longdon Sowah. She claim that
the interest rate used in the payment of the monies into court was 23.5% as
same was the commercial bank interest as at 22nd of March, 2017 set
by the Bank of Ghana. Defendants further challenged the calculation of the
judgment debt as in her view the period of calculation should have been from 28th
March, 2004 to 3rd May, 2017, the date in which the judgment was
stayed. There is also the challenge in respect of the cost awarded that a
computation of the total cost awarded do not add up to Gh¢4,400.00.<o:p></o:p><o:p>&nbsp;</o:p>In
my judgement delivered on the 22nd of March, 2017, I stated at page
16 as follows:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p>“I find all the defendants jointly and severally
liable for the claim of Gh¢280,000.00 being the cost of the cargo that
defendants unlawfully discharged at Tema instead of Takoradi. Plaintiff is also
entitled to interest on the said amount at the commercial bank lending rate
from 2004 when the goods arrived till final date of payment”.<o:p></o:p>It is this order for the
payment of interest at the commercial bank rate lending rate that has ignited
this application by the Plaintiff/Judgment Creditor/Applicant. It appears that
the Applicant has misunderstood the payment of interest at the commercial bank
lending rate to be the payment of interest at the Ghana Commercial Bank lending
rate. And this is borne by Ex ‘B1’ where in a letter to the Ghana Commercial
bank requesting for their lending rate of interest, the said Bank quoted 32%.
As a matter of fact commercial bank lending rate does not refer to Ghana
Commercial Bank lending rate and to base the calculation of interest on the
lending rate of Ghana Commercial bank is erroneous. The phrase “commercial bank lending rate” refers no
more than &nbsp;usually the average lending
rate among commercial banks in Ghana. Commercial Bank is a generic name
referring to banks that are basically into commerce.<o:p></o:p><o:p>&nbsp;</o:p>The basis of an order for the
payment of interest on commercial bank lending rate is rooted under Order 1 of
the Courts (Award of Interest and Post Judgment Interest) Rules, 2005 (C.I 52).
Rule 1 states as follows:<o:p></o:p><o:p>&nbsp;</o:p>“If the court in a civil cause or matter decides to
make an order for the payment of interest on a sum of money due to a party in
the action, that interest shall be calculated <o:p></o:p>