SIC INSURANCE COMPANY LTD. vs. IVORY FINANCE COMPANY LTD., DORIS AWO NKANI, ITALCONSTRUCT INTERNATIONAL LTD., KWESI BAIDOO AND JAMES KWEGYIR AGGREY [2018]DLSC226

SIC INSURANCE COMPANY LTD. vs. IVORY FINANCE COMPANY LTD., DORIS AWO NKANI, ITAL... [2018]DLSC226

Date	2018-02-21
Suit No.	CIVIL APPEAL NO. J4/48/2017
Citation No.	[2018]DLSC226

DOTSE JSC (PRESIDING)

YEBOAH JSC

AKOTO-BAMFO JSC

BENIN JSC

APPAU JSC

KWAME ADORBOR LED BY KIZITO BEYUO FOR THE PLAINTIFF/ APPELLANT/ APPELLANT

RICHARD AMOFA LED BY EMMANUEL AMMISAH FOR THE DEFENDANTS/ RESPONDENTS/RESPONDENTS

[2018]DLSC226
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													<main id="main" class="content" style="min-height: 60rem" ><p class="MsoNormal" align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 115%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">SIC INSURANCE
COMPANY LTD.<o:p></o:p><p class="MsoNormal" align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 115%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">vs.<o:p></o:p><p class="MsoNormal" align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 115%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">IVORY FINANCE
COMPANY LTD., DORIS AWO NKANI, ITALCONSTRUCT INTERNATIONAL LTD., KWESI BAIDOO
AND JAMES KWEGYIR AGGREY<o:p></o:p><p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 115%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">&nbsp;<o:p></o:p><p class="MsoNormal" align="center" style="margin-bottom: 0.0001pt; text-align: center; line-height: 115%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">[SUPREME COURT,
ACCRA]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

<p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt;
text-align:center;line-height:115%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">CIVIL APPEAL NO:
J4/48/2017&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 21ST FEBRUARY, 2018<o:p></o:p>

</div>COUNSEL:
<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom: 1.5pt solid windowtext; padding: 0in 0in 1pt; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">

<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 115%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border: none; padding: 0in;">KWAME ADORBOR LED
BY KIZITO BEYUO FOR THE PLAINTIFF/ APPELLANT/ APPELLANT.<o:p></o:p>

<p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 115%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border: none; padding: 0in;">RICHARD
AMOFA LED BY EMMANUEL AMMISAH FOR THE DEFENDANTS/ RESPONDENTS/RESPONDENTS.<o:p></o:p>

</div>CORAM:
<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom: 1.5pt solid windowtext; padding: 0in 0in 1pt; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">

<p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 115%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border: none; padding: 0in;">DOTSE JSC (PRESIDING), YEBOAH JSC, AKOTO-BAMFO JSC, BENIN JSC AND
APPAU JSC<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:0in 0in 1.0pt 0in">

</div><p class="MsoNormal" style="margin-bottom: 0.0001pt; line-height: 115%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">ANIN YEBOAH, JSC:-<o:p></o:p><p class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: justify; line-height: 115%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">On 26/1/2015, the
Plaintiff/Appellant/Appellant herein (who for sake of brevity shall be referred
to as the Plaintiff) commenced these proceedings at the Commercial Division of
the High Court, Accra, against the five defendants (who shall be referred to in
this judgment as the defendants) for several reliefs endorsed on the writ of
summons thus:<o:p></o:p><p class="MsoNormal" style="margin: 0in 0in 0.0001pt 37.5pt; text-align: justify; text-indent: -19.5pt; line-height: 115%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">(a)&nbsp;&nbsp;&nbsp;a declaration
that the 2nd&nbsp;Defendant acted in breach of
Section 203 of the Companies Act 1963 (Act 179) in issuing the First and Second
Guarantee bonds;<o:p></o:p><p class="MsoNormal" style="margin: 0in 0in 0.0001pt 37.5pt; text-align: justify; text-indent: -19.5pt; line-height: 115%; background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial;">(b)&nbsp;&nbsp;&nbsp;a declaration
that the 2nd&nbsp;Defendant acted in breach of
Section 203 of the Compan</main>