UNICREDIT GH. LTD (PLAINTIFF) vs. NICHOLAS KARIKARI & 2 ORS (DEFENDANTS) [2018]DLHC7292

Date	2018-06-26
Suit No.	SUIT NO. BFS/242/13
Citation No.	[2018]DLHC7292

HIS LORDSHIP GEORGE K. KOOMSON (J).

ANTHONY MARSHALL FOR THE PLAINTIFF

[2018]DLHC7292
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													<main id="main" class="content" style="min-height: 60rem" >UNICREDIT GH. LTD<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>NICHOLAS KARIKARI &amp; 2 ORS<o:p></o:p>(DEFENDANTS)<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. BFS/242/13&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 26TH JUNE,
2018<o:p></o:p>

ANTHONY
MARSHALL FOR THE PLAINTIFF<o:p></o:p>

</div>CORAM:<o:p></o:p>HIS LORDSHIP GEORGE K. KOOMSON (J).<o:p></o:p><div style="mso-element:para-border-div;border-top:solid windowtext 1.5pt;
border-left:none;border-bottom:solid windowtext 1.5pt;border-right:none;
padding:1.0pt 0in 1.0pt 0in">

<p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt;
text-align:center;line-height:115%;border:none;mso-border-top-alt:solid windowtext 1.5pt;
mso-border-bottom-alt:solid windowtext 1.5pt;padding:0in;mso-padding-alt:1.0pt 0in 1.0pt 0in">JUDGMENT<o:p></o:p>

</div>On the 1st November, 2017, the Plaintiff
granted to the 1st Defendant a commercial loan facility in the sum
of GH¢600,000.00 for a period of ten (10) months, expiring on the 3rd
October, 2012.&nbsp; The interest on this
facility was a rate of 3.0% per month.&nbsp;
The parties further agreed to a default charge of 0.5% per day on the
instalment due until the date the instalment is paid.&nbsp; As security for the said facility, the 3rd
Defendant used her property to secure the repayment of the facility. Then on
the 29th February, 2012, the 1st Defendant took another
facility in the sum of GH¢300,000.00 from the Plaintiff at a monthly interest
rate of 3.0% with a default charge of 0.5% per day on the instalment due and
owing until payment is made.&nbsp; This second
facility was also secured with the property of the 2nd
Defendant.&nbsp; Both 2nd and 3rd
Defendants executed personal guarantees to pay the debts of the 1st
Defendant in the event of any default.&nbsp;
The inability of the 1st Defendant to retire its indebtedness
to the Plaintiff caused the Plaintiff to issue a writ of summons asking for the
following reliefs against the Defendants jointly and severally:<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Recovery
of the amount of GH¢805,142.62 being as at 9th October, 2013 and
outstanding amount of loan granted to the 1st Defendant by the
Plaintiff.<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest
at the agreed contractual rate till date of final payment.<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Costs<o:p></o:p>The 1st Defendant also asked in a
counterclaim the following reliefs:<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An
order for Plaintiff to render account on the loan disbursement and statement of
accounts in respect of repayments made by the 1st Defendant.<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">(ii</main>