TIGER FORCE MICROFINANCE LTD vs. KOFI ANNAN SAMSON [2018]DLHC3855

Date	2018-01-15
Suit No.	SUIT NO. MISC/0092/2017
Citation No.	[2018]DLHC3855

ERIC K. BAFFOUR ESQ.JUSTICE OF THE HIGH COURT

NANA ABA AKWAABA ACQUAAH MS. FOR KISSI AGYABENG ESQ FOR APPLICANT

VICTOR LASSEY ESQ FOR AGBESI DZAKPASU ESQ FOR RESPONDENT

[2018]DLHC3855
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													<main id="main" class="content" style="min-height: 60rem" >TIGER FORCE MICROFINANCE
LTD<o:p></o:p>vs.<o:p></o:p>KOFI ANNAN SAMSON<o:p></o:p>[HIGH COURT (COMMERCIAL
DIVISION), ACCRA]<o:p></o:p>SUIT NO. MISC/0092/2017&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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 JANUARY, 2018<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<o:p>&nbsp;</o:p>

</div>COUNSEL:<o:p></o:p>NANA ABA AKWAABA ACQUAAH, MS. FOR KISSI AGYABENG, ESQ FOR
APPLICANT <o:p></o:p>VICTOR LASSEY, ESQ FOR AGBESI DZAKPASU, ESQ FOR RESPONDENT <o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<o:p>&nbsp;</o:p>

</div>RULING<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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</div>Before the court is a motion on notice for a warrant to possess
and realize a charged landed property of three–storey building situate at Dome
Kwabenya that the Applicant claim was used as security to secure a loan of
Gh¢74,000.00. The application has been mounted under sections 33(b) and 34(2)
of the Borrowers and Lenders Act, 2008, Act<o:p></o:p>773. The Applicant claiming to be a microfinance institution
registered and licensed under the laws of Ghana to engage in the business of
lending, states in an affidavit sworn to by one Dennis Adjabeng, a lawyer in
the firm of Cromwell Gray, LLP that per a loan agreement dated the 23rd of
January, 2013 the Applicant disbursed an amount of Seventy-Four Thousand Ghana
Cedis (Ghc74,000.00) to the Respondent as a loan payable within a period of six
months with the interest rate of Ghc5,920.00 per month.<o:p></o:p><o:p>&nbsp;</o:p>Applicant further claim that the loan granted the Respondent was
secured with a landed property at Dome Kwabenya and the said security was
registered with the collateral Registry of the Bank of Ghana under the
Borrowers and Lenders Act, Act 773. The Applicant notes that Respondent failed
to repay the loan on due date and same was restructured for him. Respondent
however again failed to abide by the restructured loan agreement causing
Applicant to write to demand for the repayment of all the outstanding loans.
The Respondent, according to Applicant undertook to settle the loan but has
reneged on that undertaking and is currently indebted to the Applicant in the
sum of One Million Four Hundred and Fifty Four Thousand Six Hundred and Fifteen
Cedis Nineteen Pesewas (Ghc1,454,615.19).<o:p></o:p><o:p>&nbsp;</o:p>To Applicant with Memorandum of no objection obtained from the
Bank of Ghana to realize the charged property it seeks before the court a
warrant to possess the property and a further order for Police assistance to
take peaceful possession.<o:p></o:p><o:p>&nbsp;</o:p>Respondent has fiercely resisted the application for warrant to
possess his property in the affidavit deposed in opposition to the application
and a supplementary affidavit filed. In the affidavit deposed to on the 28th
of June, 2017 he concedes that he took a loan from Applicant and had made
payments which does not reflect in the statement of account furnished him by
the Applicant. He again contested the flat charge of Gh¢400.00 as default
charge which was not part of the terms of the agreement and accordingly called
for a reconciliation of accounts.<o:p></o:p><o:p>&nbsp;</o:p>However, there seems to have been a volte face in the
supplementary affidavit in opposition filed on the 20th of November,
2017. Respondent contend that Applicant is unknown to him as he once entered
into a loan agreement for an amount of Gh¢15,000.00 with an entity called Tiger
Force Consultancy Ghana Ltd and that this entity is separate and different from
the Applicant who is making a claim against him as he states that his searches
at the Registrar General’s Department prove so. To Respondent any loan
agreements he might have signed were all signed with Tiger Force Consultancy
Ghana Ltd and applicant is unknown to him. He further contends that the loan
agreements he signed with Tiger Force Financial Consult and Tiger Force Consultancy
Ghana, these entities had no capacity and legal authority to grant loan to him
and charge interest.<o:p></o:p>