BEIGE CAPITAL SAVINGS AND LOAN vs. SIR ERNEST FARMS AND LOGISTICS AND ANOTHER [2018]DLHC3754

Date	2018-05-15
Suit No.	SUIT NO. CM/BFS/0015/17
Citation No.	[2018]DLHC3754

ERIC K. BAFFOUR ESQ. JUSTICE OF THE HIGH COURT

PLAINTIFF REPRESENTED BY ISAAC ODAME.

COUNSEL FOR PLAINTIFF – HENRIETTA ACKOW KWACHIE FOR JOSEPH AKYEAMPONG PRESENT.

COUNSEL FOR DEFENDANTS – HUUDU YAHAYA FOR JOHN OPOKU PRESENT.

[2018]DLHC3754
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													<main id="main" class="content" style="min-height: 60rem" >BEIGE CAPITAL SAVINGS
AND LOAN<o:p></o:p>vs.<o:p></o:p>SIR ERNEST FARMS AND
LOGISTICS AND ANOTHER<o:p></o:p>[HIGH COURT (COMMERCIAL
DIVISION), ACCRA]<o:p></o:p>SUIT NO. CM/BFS/0015/17&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;15TH MAY, 2018<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:31.0pt 31.0pt 1.0pt 31.0pt;mso-border-shadow:yes">

<o:p>&nbsp;</o:p>

</div>COUNSEL:<o:p></o:p>PLAINTIFF REPRESENTED BY ISAAC ODAME. <o:p></o:p>COUNSEL FOR PLAINTIFF – HENRIETTA ACKOW KWACHIE FOR JOSEPH
AKYEAMPONG PRESENT. <o:p></o:p>COUNSEL FOR DEFENDANTS – HUUDU YAHAYA FOR JOHN OPOKU PRESENT. <o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 31.0pt 1.0pt 31.0pt">

<o:p>&nbsp;</o:p>

</div>JUDGMENT<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 31.0pt 1.0pt 31.0pt">

</div>Plaintiff, a non bank financial institution claim the following
reliefs endorsed on its writ issued against the defendants on the 26th of
November, 2014: <o:p></o:p><p class="MsoListParagraphCxSpFirst" style="text-align:justify;text-indent:-.25in;
mso-pagination:none;mso-list:l2 level1 lfo1;border:none;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;
mso-border-shadow:yes">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order for the honourable
court directed at the Defendants for the recovery by the Plaintiff of the sum
of Gh¢2,482,157.79 <o:p></o:p><p class="MsoListParagraphCxSpMiddle" style="text-align:justify;text-indent:-.25in;
mso-pagination:none;mso-list:l2 level1 lfo1;border:none;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;
mso-border-shadow:yes">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Penalty of Gh¢2,482,157.79 <o:p></o:p><p class="MsoListParagraphCxSpMiddle" style="text-align:justify;text-indent:-.25in;
mso-pagination:none;mso-list:l2 level1 lfo1;border:none;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;
mso-border-shadow:yes">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest of 4% per month on the
outstanding balance with effect from 1st October, 2014 till date of payment. <o:p></o:p><p class="MsoListParagraphCxSpLast" style="text-align:justify;text-indent:-.25in;
mso-pagination:none;mso-list:l2 level1 lfo1;border:none;mso-padding-alt:31.0pt 31.0pt 31.0pt 31.0pt;
mso-border-shadow:yes">d.&nbsp;&nbsp;&nbsp;&nbsp;
Costs including Solicitor’s
fees <o:p></o:p><o:p>&nbsp;</o:p>Or in the alternative <o:p></o:p>1. An order for the judicial sale of the residential property
situate at Dzorwulu, <o:p></o:p>Accra and described as No C27/14 Kpentenbiibi Street and
registered at the Lands Registry with No LD 8455/AC 11933. <o:p></o:p><o:p>&nbsp;</o:p>The factual basis for the claim of the Plaintiff can be summarized
as follows: That by a loan agreement on the 23rd of December, 2013 executed
between the parties, Plaintiff granted a loan in the sum of Ghc¢1,800.000.00 to
the 1st Defendant for the purpose of obtaining supplies of commodities like
rice, sugar, cooking oil and canned fish from Olam, a company that deals in
food processing. Plaintiff claim tha</main>