MULTI CREDIT SAVING & LOAN vs. VERSION APRICOT & ANOR [2018]DLHC3739

Date	2018-05-29
Suit No.	SUIT NO. BFS/45/17
Citation No.	[2018]DLHC3739

ANGELINA MENSAH-HOMIAH (MRS.) JUSTICE OF THE HIGH COURT

FRANK LISTOWEL DEBRAH YEBOAH FOR PLAINTIFF

FRANCIS KOFFIE FOR 1ST DEFENDANT

[2018]DLHC3739
																																						<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"></a><a name="OLE_LINK11"></a><a name="OLE_LINK12">MULTI CREDIT
SAVING &amp; LOAN<o:p></o:p></a>vs.<o:p></o:p>VERSION APRICOT &amp; ANOR<o:p></o:p>&nbsp;[HIGH COURT (COMMERCIAL DIVISION), KUMASI]<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. BFS/45/17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 29TH MAY, 2018<o:p></o:p>

</div>COUNSEL:&nbsp;&nbsp; <o:p></o:p>FRANK
LISTOWEL DEBRAH YEBOAH FOR PLAINTIFF&nbsp; <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">

FRANCIS KOFFIE FOR 1ST
DEFENDANT <o:p></o:p>

JUDGMENT<o:p></o:p>

</div>The
Plaintiff herein commenced an action against the Defendants herein on
27/04/2017 wherein it claimed the reliefs as set out below:<o:p></o:p>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order for the recovery of the sum of GHC
495,611.80 being the principal outstanding of GHC 472,011.24 and interest
including penalty of GHC 23,600.56 owing and due as at March 2017 on the loan
and overdraft granted by the Plaintiff in May, 2012 and February, 2015 to the 1st
Defendant and guaranteed by the 2nd and 3rd Defendants
which the Defendants have failed and/or refused to pay notwithstanding repeated
demands on them by the Plaintiff.<o:p></o:p>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Contractual interest including penalty
interest on the said sum from 1/4/17 to date of judgment and thereafter at
prevailing commercial bank interest rate till date of final payment.<o:p></o:p>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Costs, including solicitor’s fees.<o:p></o:p>d.&nbsp;&nbsp;&nbsp;&nbsp;
Any further order(s) or other relief(s)
that the court may seem fit to make.<o:p></o:p>The
1st Defendant entered appearance through its lawyer, Francis Koffie,
Esq on 10/05/17 and proceeded to file a defence on 01/06/17. The matter was
partially settled at pre-trial, and the sole issue which has been placed before
this court for trial is:<o:p></o:p>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Whether or not the Plaintiff is entitled to
interest and penalty. <o:p></o:p>On
30/04/2018 when the matter was placed before the trial court, the court
directed that the issue will be disposed of by legal arguments. Hence, an order
was made for counsel to file their legal arguments simultaneously on or before
18/05/2018. Counsel for the Plaintiff was further directed to take steps for
the court notes of the day and a hearing notice to be served on counsel for the
1st Defendant. <o:p></o:p>