EXIMGUARANTY CO. LTD vs. MASHACO LTD AND KOFI FOSU ASMAH [2018]DLHC7541

Date	2018-12-17
Suit No.	SUIT NO. BFS209/2013
Citation No.	[2018]DLHC7541

JEROME NOBLE-NKRUMAH JUSTICE OF THE HIGH COURT

GODWIN DJOKOTO WITH DOREEN AKPAI AND JULIET AKPE-DOE FOR THE PLAINTIFF

[2018]DLHC7541
																																						<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" >EXIMGUARANTY
CO. LTD<o:p></o:p>vs.<o:p></o:p>MASHACO LTD AND KOFI FOSU ASMAH<o:p></o:p>[HIGH COURT (COMMERRCIAL DIVISION), ACCRA]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0cm 0cm 1.0pt 0cm">

SUIT
NO. BFS209/2013&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 17TH DECEMBER, 2018<o:p></o:p>

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

GODWIN
DJOKOTO WITH DOREEN AKPAI AND JULIET AKPE-DOE FOR THE PLAINTIFF<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:0cm 0cm 1.0pt 0cm">

JEROME
NOBLE-NKRUMAH 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:0cm 0cm 1.0pt 0cm">

</div>It has been the plaintiffs case that
the 1st defendant, a company, applied for a facility of
GHC207,000.00 from Unibank Ghana Ltd and as condition for the grant, the
plaintiff says the 1st defendant was required to furnish the bank
with a guarantee in the sum of GHC103,500.00 representing 50% of the credit
facility. It is the plaintiff’s case that the defendant applied for the said
credit guarantee in favor of Unibank and same was approved and issued.<o:p></o:p>Having failed to honor its obligation
under the facility, to the bank, the plaintiff says the bank has called in the guarantee
and as a consequence it has as at time of suing paid out an amount of GHC64,
842.32 out of the guaranteed amount. Plaintiff has subsequently sued for same
in addition to interest calculated from 30th October 2012 up to and
inclusive of the date of final payment. Plaintiff seeks legal cost as well to
be assessed at 15% of the aggregate sum due and payable under the facility<o:p></o:p>Settlement having failed at pretrial
the following issues were set down for resolution:<o:p></o:p>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;whether or not 1st defendant
applied to the plaintiff for a credit guarantee in the sum of GHC103,500.00<o:p></o:p>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Whether
or not the plaintiff issued a credit guarantee on behalf of the 1st
defendant in favor of the Millennium Challenge Account<o:p></o:p>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Whether
or not 1st defendant failed to pay the facility granted it by
Unibank Ghana Ltd<o:p></o:p>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Whether
or not plaintiff paid an amount of GHC64, 824.32 to Unibank on 3rd
October 2012 as a result of the failure of 1st defendants to pay the facility. <o:p></o:p>As this is a civil matter proof is by a
preponderance of probabilities. Section
12 of the Evidence Act 1975, NRCD 323 states this preponderance of
probabilities to mean that degree of certainty in the mind of the tribunal of
fact or the court by which it is convinced that the existence of a fact is more
probable than its non-existence. <o:p></o:p>This is what the burden of persuasion
requires, of the party, to convince the court that its version of events is
that which has occurred or transpired. It may also depending on the particular
circumstances require the party only to raise a reasonable doubt concerning the
existence or nonexistence of a fact. (Section
10 Evidence Act)<o:p></o:p>