BANK OF AFRICA (GHANA) LTD. vs. MAGNA INTERNATIONAL COMPANY LTD. , SAMUEL BANNERMAN, JAMES ARYEETEY AND ABBEY TEI MENSAH [2018]DLHC9102

BANK OF AFRICA (GHANA) LTD. vs. MAGNA INTERNATIONAL COMPANY LTD. , SAMUEL BANNE... [2018]DLHC9102

Date	2018-05-24
Suit No.	SUIT NO. CM/BFS/0087/18
Citation No.	[2018]DLHC9102

HER LADYSHIP JUSTICE JENNIFER A. DADZIE

KWABENA ADU-KUSI ESQ. OF LAW BUREAU ACCRA COUNSEL FOR PLAINTIFF/RESPONDENT

JULIO DE MEDEIROS ESQ. OF DE MEDEIROS & ASSOCIATES ACCRA COUNSEL FOR 1ST DEFENDANT/APPLICANT

[2018]DLHC9102
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													<main id="main" class="content" style="min-height: 60rem" >BANK OF AFRICA (GHANA) LTD.<o:p></o:p>(PLAINTIFF/RESPONDENT)<o:p></o:p>vs.<o:p></o:p>MAGNA INTERNATIONAL COMPANY LTD. (1ST
DEFENDANT/APPLICANT),
SAMUEL BANNERMAN, JAMES ARYEETEY (DEFENDANTS) AND ABBEY TEI MENSAH<o:p></o:p>[HIGH COURT,
(COMMERCIAL DIVISION) ACCRA]<o:p></o:p><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>COUNSEL:<o:p></o:p>KWABENA ADU-KUSI,
ESQ., OF LAW BUREAU, ACCRA, COUNSEL FOR PLAINTIFF/RESPONDENT<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;margin-left:0cm;margin-right:.2pt">

<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:115%;tab-stops:298.8pt;border:none;mso-border-bottom-alt:
solid windowtext 1.5pt;padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">JULIO DE MEDEIROS, ESQ., OF DE MEDEIROS
&amp; ASSOCIATES, ACCRA, COUNSEL FOR 1ST DEFENDANT/APPLICANT<o:p></o:p>

</div>CORAM:<o:p></o:p>HER
LADYSHIP, JUSTICE JENNIFER A. DADZIE<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;
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<p class="MsoNormal" align="center" style="text-align:center;line-height:115%;
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solid windowtext 1.5pt;padding:0cm;mso-padding-alt:1.0pt 0cm 1.0pt 0cm">RULING<o:p></o:p>

</div>The 1st Defendant in this case,
referred to herein as “Applicant”, brings this application on notice for an
Order to set aside the Writ of Summons and Statement of Claim issued by the
Plaintiff, also referred to hereinafter as “Respondent” under the inherent
jurisdiction of the Court. Per the Writ of Summons issued on January 31, 2018,
Respondent seeks the following reliefs:<o:p></o:p>“a.&nbsp;&nbsp; The recovery of the sum of Six Million, Six
Hundred and Sixty-One Thousand, Six Hundred and Four Ghana Cedis and Forty
Pesewas (GH¢6,661,604.40) being the outstanding balance on the facilities as at
October 1, 2016, which said amount is due and owing to Plaintiff by the
Defendants and which amount the Defendants have failed and/or refused to pay to
Plaintiff in spite of several and repeated demands made therefore.<o:p></o:p><p class="MsoListParagraphCxSpMiddle" style="margin-top:0cm;margin-right:36.0pt;
margin-bottom:8.0pt;margin-left:58.5pt;mso-add-space:auto;text-align:justify;
text-indent:-22.5pt;line-height:115%;mso-list:l3 level1 lfo4">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest
on the said amount at the agreed rate of 27% per annum from October 1, 2016
until date of final payment.<o:p></o:p><p class="MsoListParagraphCxSpMiddle" style="margin-top:0cm;margin-right:36.0pt;
margin-bottom:8.0pt;margin-left:58.5pt;mso-add-space:auto;text-align:justify;
text-indent:-22.5pt;line-height:115%;mso-list:l3 level1 lfo4">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Penal
interest of 6% per month from September 25, 2013 until date of final payment.<o:p></o:p><p class="MsoListParagraphCxSpMiddle" style="margin-top:0cm;margin-right:36.0pt;
margin-bottom:8.0pt;margin-left:58.5pt;mso-add-space:auto;text-align:justify;
text-indent:-22.5pt;line-height:115%;mso-list:l3 level1 lfo4">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Legal
fee being 10% of the sum due the Plaintiff at the date of final payment.<o:p></o:p><p class="MsoListParagraphCxSpLast" style="margin-top:0cm;margin-right:36.0pt;
margin-bottom:8.0pt;margin-left:58.5pt;mso-add-space:auto;text-align:justify;
text-indent:-22.5pt;line-height:115%;mso-list:l3 level1 lfo4">e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Costs”<o:p></o:p>