GROFIN AFRICA FUND GH. LTD vs. MASACHAR CO. LTD & 2ORS [2018]DLHC9163

Date	2018-06-11
Suit No.	SUIT NO: MISC/0002/2018
Citation No.	[2018]DLHC9163

HER LADYSHIP JUSTICE JENNIFER ABENA DADZIE

RICHMOND NUMBO SAAKA ESQ. FOR APPLICANT

E.N. POKU ESQ. WITH NICOLE-MARIE POKU FOR THE DEFENDANTS/REPONDENTS

[2018]DLHC9163
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													<main id="main" class="content" style="min-height: 60rem" >GROFIN
AFRICA FUND GH. LTD<o:p></o:p>(APPLICANT)<o:p></o:p>vs.<o:p></o:p>MASACHAR
CO. LTD &amp; 2ORS<o:p></o:p>(RESPONDENT)<o:p></o:p>[HIGH COURT, 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: MISC/0002/2018&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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:
11TH JUNE, 2018<o:p></o:p>

</div>COUNSEL:<o:p></o:p>RICHMOND NUMBO SAAKA, ESQ., FOR APPLICANT<o:p></o:p>E.N. POKU, ESQ., WITH NICOLE-MARIE POKU FOR THE DEFENDANTS/REPONDENTS &nbsp; <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>CORAM:<o:p></o:p>HER LADYSHIP JUSTICE JENNIFER ABENA DADZIE<o:p></o:p><div style="mso-element:para-border-div;border-top:solid windowtext 1.5pt;
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<p class="MsoNormal" align="center" style="text-align:center;line-height:150%;
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</div>This is a motion filed by the
Respondent to the motion earlier filed on the docket for a Warrant to Realise
and or take Possession of certain charged properties pursuant to the Sections
33 and 34 (2) of the Borrowers and Lenders Act, currently pending before this
court for disposition.&nbsp; The court had in
that motion ordered counsel for both parties to address the court by filing
written submissions.&nbsp; The counsel for
Applicant, it is noted did comply with the order but the Respondent rather than
comply, has now filed the present motion seeking an order staying the
proceedings until such time as the suit entitled Masachar Co. Ltd and Bank of
Ghana, Suit No. CM/BAC/0392/2018 filed on May 28th, 2018 is
determined or in the alternative to consolidate the two cases.&nbsp; <o:p></o:p>I have reviewed the affidavit in
support of and in opposition to the said application, and I shall grant the
application for stay of proceedings for the reasons set out below.<o:p></o:p>A review of the reliefs sought by the
Respondent herein but the Plaintiff in the above mentioned suit, as endorsed on
the Writ of Summons, a copy of which was attached to the affidavit in support
of the motion as Exhibit ‘MSI’ include among others, a declaration that the 1st
Defendant in that suit but the Applicant/Respondent herein, is illegally
operating a money lending and other financial business in Ghana contrary to the
Bank of Ghana laws and regulations; a declaration that the Mortgage deed was
procured by fraud and misrepresentation and an order cancelling the Bank of
Ghana consent or, as I understand it, the Memorandum of No Objection dated
December 19th, 2017 for the realisation of and/or recovery of
possession of the charged property.<o:p></o:p>These are reliefs, which to my mind
will have an impact on the Order of this court should this court grant the
warrant to realise and possess the charged properties and those reliefs are
granted in favour of the Respondent/Applicant herein.&nbsp; In particular, fraud, it has been held,
vitiates all and when coupled with the fact that if the Applicant is found not
to have the appropriate licence to carry out the transaction in issue, the
whole transaction before me would be unlawful and a court of law cannot enforce
same.<o:p></o:p>It is my opinion, then, that it would
be prudent to stay the present proceedings to await the outcome of the trial in
the suit exhibited as Exhibit ‘MS1’.&nbsp; I
must note here that that suit involves the same parties herein and same arises
out of the same transaction or transactions in issue.<o:p></o:p>I will however decline the alternative
relief of the Defendants/Applicants herein for an order consolidating the two
cases.&nbsp; My reasons are that even though
the two cases may involve the same parties and the rights to reliefs claimed in
both cases may be in respect of or arise out of the same transaction, as noted
earlier, the two cases were commenced by two very different modes, one by
Originating Notice of Motion and the other by Writ of Summons.&nbsp; Both would involve the considerations of
different aspects of the law as applicable to the different legal principles
involved in the two different procedures.&nbsp;
In such circumstances, it would be inconvenient for the court for the
two cases to be consolidated.<o:p></o:p>For the foregoing reasons, the present
application for stay of proceedings is granted.&nbsp;
It is hereby ordered that the proceedings arising from the Motion for a
Warrant to Possess and Realise charged assets filed on January 1st,
2018 be stayed pending the outcome of the determination of the suit numbered CM/BAC/0392/2018
and titled Masachar Co. Ltd Vrs Grofin Africa Fund Ghana Limited and Bank of
Ghana.<o:p></o:p>I make no order as to costs.<o:p></o:p><o:p>&nbsp;</o:p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (SGD)<o:p></o:p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbs</main>