MET CAPITAL GROUP LIMITED vs. GUARANTY TRUST BANK (GHANA) LTD. &LINKSFIELD RIDGE REALTY LTD [2018]DLHC9216

MET CAPITAL GROUP LIMITED vs. GUARANTY TRUST BANK (GHANA) LTD. &LINKSFIELD RIDG... [2018]DLHC9216

Date	2018-10-15
Suit No.	SUIT NO. CM/OCC/0649/2016
Citation No.	[2018]DLHC9216

HER LADYSHIP JUSTICE JENNIFER ABENA DADZIE

ALFRED NII ADJIN MENSAH ESQ. OF HESSE & HESSE OSU ACCRA COUNSEL FOR PLAINTIFF

EMMANUEL BRIGHT ATOKOH ESQ. OF EBA LAW CONSULT OSU ACCRA COUNSEL FOR 1ST DEFENDANT

EBENEZER AHIATOR ESQ. OF AHIATOR LAW CONSULTANCY ACCRA COUNSEL FOR 2ND DEFENDANT

[2018]DLHC9216
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													<main id="main" class="content" style="min-height: 60rem" >MET CAPITAL GROUP LIMITED<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>GUARANTY TRUST BANK (GHANA) LTD. &amp;LINKSFIELD RIDGE
REALTY LTD.<o:p></o:p>(DEFENDANT)<o:p></o:p>[HIGH COURT, ACCRA]<o:p></o:p>SUIT NO. CM/OCC/0649/2016&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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:
15TH OCTOBER, 2018<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">

</div>COUNSEL:<o:p></o:p>ALFRED NII ADJIN MENSAH, ESQ., OF HESSE
&amp; HESSE, OSU, ACCRA, COUNSEL FOR PLAINTIFF<o:p></o:p>EMMANUEL BRIGHT ATOKOH, ESQ., OF EBA LAW CONSULT, OSU,
ACCRA, COUNSEL FOR 1ST DEFENDANT<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:normal;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">EBENEZER
AHIATOR, ESQ., OF AHIATOR LAW CONSULTANCY, ACCRA, COUNSEL FOR 2ND DEFENDANT<o:p></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:normal;
border:none;mso-border-top-alt:solid windowtext 1.5pt;mso-border-bottom-alt:
solid windowtext 1.5pt;padding:0cm;mso-padding-alt:1.0pt 0cm 1.0pt 0cm">JUDGMENT<o:p></o:p>

</div>The
Plaintiff is a body corporate registered under the laws of Ghana.&nbsp; It is engaged in the business of investment
banking with its core activities in the areas of fund management, corporate
finance and business advisory services.&nbsp;
The 1st Defendant is a banker to both the Plaintiff and the 2nd
Defendant, who is also a client of the Plaintiff.<o:p></o:p>A
very brief summary of the material facts which gave rise to the matter before
this Court as gleaned from the Plaintiff’s pleadings, documentary evidence and
the testimony of its representative, Mr. Eugene Asiamah-Boadi, its Managing
Director, are as follows.&nbsp; It is the
claim of the Plaintiff that it gave to the 1st Defendant specific
payment instructions in respect of its account held with the 1st
Defendant bank for the execution of a financial transaction in favour of the 2nd
Defendant.&nbsp; These instructions were the
resolutions that had been arrived at by all three (3) parties to this suit, the
Plaintiff, the 1st and 2nd Defendants, at a meeting held
between and among themselves, according to the Plaintiff.&nbsp; The Plaintiff complains, however, that in
carrying out the said instructions, the 1st Defendant breached its
duty of care owed to the Plaintiff with the result that the Plaintiff relied on
the advice and assurances of the 1st Defendant to its detriment,
thereby causing the Plaintiff to suffer severe losses, both financial and
otherwise.<o:p></o:p>The
Plaintiff, as a result, caused a Writ of Summons to be issued on its behalf on
October 6, 2016 in which the Plaintiff claimed against the Defendants, jointly
and severally, the following reliefs:<o:p></o:p>“a) Special Damages of Ten Million United States
Dollars ($10,000,000.00) or its Cedi Equivalent of Forty Million Ghana Cedis
(GH¢40,000,000.00) for lost income.<o:p></o:p><p class="MsoNormal" style="margin-top:0cm;margin-right:36.0pt;margin-bottom:
0cm;margin-left:54.0pt;margin-bottom:.0001pt;text-align:justify;text-indent:
-18.0pt;line-height:150%;mso-list:l8 level1 lfo14">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General Damages of One Hundred Million
Ghana Cedis (GH¢100,000,000.00) for breach of duty of care to the Plaintiff.<o:p></o:p><p class="MsoNormal" style="margin-top:0cm;margin-right:36.0pt;margin-bottom:
0cm;margin-left:54.0pt;margin-bottom:.0001pt;text-align:justify;text-indent:
-18.0pt;line-height:150%;mso-list:l8 level1 lfo14">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General Damages of Thirty Million Ghana
Cedis (GH¢30,000,000.00) for Defamation.<o:p></o:p><p class="MsoNormal" style="margin-top:0cm;margin-right:36.0pt;margin-bottom:
0cm;margin-left:54.0pt;margin-bottom:.0001pt;text-align:justify;text-indent:
-18.0pt;line-height:150%;mso-list:l8 level1 lfo14">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recovery of the sum of Five Hundred and
Fifty Thousand United States Dollars ($550,000.00) (blocked funds).<o:p></o:p><p class="MsoNormal" style="margin-top:0cm;margin-right:36.0pt;margin-bottom:
0cm;margin-left:54.0pt;margin-bottom:.0001pt;text-align:justify;text-indent:
-18.0pt;line-height:150%;mso-list:l8 level1 lfo14">