UNIBANK [GHANA] LTD vs. CHRISTIAN CECIL LUTTERODT AND FIIFI PINKRAH [2018]DLHC7558

Date	2018-11-13
Suit No.	SUIT NO. CM/BFS/0378/16
Citation No.	[2018]DLHC7558

JEROME NOBLE-NKRUMAH JUSTICE OF THE HIGH COURT

VIDA NARKIE ODONKOR FOR FAUSTINUS KORANTENG FOR THE 1ST DEFENDANT

[2018]DLHC7558
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													<main id="main" class="content" style="min-height: 60rem" >UNIBANK
[GHANA] LTD<o:p></o:p>vs.<o:p></o:p>CHRISTIAN CECIL LUTTERODT AND FIIFI PINKRAH<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;
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SUIT
NO. CM/BFS/0378/16&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 13TH
NOVEMBER, 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;
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VIDA
NARKIE ODONKOR FOR FAUSTINUS KORANTENG FOR THE 1ST DEFENDANT<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;
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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;
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</div>It is the Plaintiffs case that pursuant
to a Board resolution by a company called West African market links Ltd[the
borrower] the Plaintiff by an offer letter dated 3rd march 2011
advanced to the borrower <o:p></o:p>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A
revolving loan facility of USD 1,000,000.00 at interest rate of 13% per annum<o:p></o:p>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Overdraft
facility of GHC50, 000.00 at interest rate of 30.45% per anum.<o:p></o:p>According to the terms of said offer
letter, the Plaintiff says the first Defendant secured the facility with his
residential property situate on Parcel no. 458, Block 11, Section 037, Batsona,
Spintex, Accra in a mortgage deed backed by a statutory declaration to that
effect. Upon a default by the borrower, Plaintiff instituted action against in
suit no. BFS/30/15 for the recovery of the outstanding balance. Plaintiff says it
obtained a judgment on admission on the 6th of April 2016 and a
Varied Judgment on admission of claims dated 10th June 2016.<o:p></o:p>Attempts at enforcing said judgment
against the borrower and its directors having failed the Plaintiff has sued the
two Defendants in this action who provided security for the facility as
follows:<o:p></o:p>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Judicial
sale of residential property situate on parcel no. 458, block 11. Section&nbsp; 037, Batsona, Spintex, Accra<o:p></o:p>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Judicial
sale of landed property situate on parcel no. 660, block 26, section 114,
Bawaleshie, east legon<o:p></o:p>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Costs
of instituting this action including solicitors cost<o:p></o:p>d.&nbsp;&nbsp;&nbsp;&nbsp;
Such
further order[s] as this court may deem fit<o:p></o:p>