[2019]DLCA7793 Login to Read Full Case <span style="font-size: 18px !important;"><p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt; text-align:center"><span class="NoSpacingChar"><b><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family: "Book Antiqua",serif;color:#00B0F0">NDK FINANCIAL SERVICES</span></b></span><span class="NoSpacingChar"><i><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua",serif"><o:p></o:p></span></i></span></p><p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt; text-align:center"><span class="NoSpacingChar"><i><span lang="EN-GB" style="font-size:10.0pt;line-height:115%;font-family: "Book Antiqua",serif">(PLAINTIFF/APPELLANT/CROSS RESPONDENT</span></i></span><i><span lang="EN-US" style="font-size:10.0pt; line-height:115%;font-family:"Book Antiqua",serif">)<o:p></o:p></span></i></p><p class="MsoNoSpacing" align="center" style="text-align:center;line-height:115%"><b><span lang="EN-GB" style="font-size:12.0pt; line-height:115%;font-family:"Book Antiqua",serif;mso-fareast-font-family:"Book Antiqua"; mso-bidi-font-family:"Book Antiqua";color:#00B0F0">vs.<o:p></o:p></span></b></p><p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt; text-align:center"><span class="NoSpacingChar"><b><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family: "Book Antiqua",serif;color:#00B0F0">SAFRE LIMITED<o:p></o:p></span></b></span></p><p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt; text-align:center"><span class="NoSpacingChar"><i><span lang="EN-GB" style="font-size:10.0pt;line-height:115%;font-family: "Book Antiqua",serif">(</span></i></span><i><span lang="EN-US" style="font-size:10.0pt;line-height:115%;font-family:"Book Antiqua",serif">1<sup>ST</sup> DEFENDANT/RESPONDENT/ CROSS APPELLANT</span></i><i><span lang="EN-US" style="font-size:10.0pt;line-height:115%;font-family: "Book Antiqua",serif;mso-fareast-font-family:"Book Antiqua";mso-bidi-font-family: "Book Antiqua"">)<o:p></o:p></span></i></p><p class="MsoNoSpacing" align="center" style="text-align:center;line-height:115%"><span class="NoSpacingChar"><b><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua",serif; color:#00B0F0">KWEKU SARFO KANTANKA<o:p></o:p></span></b></span></p><p class="MsoNoSpacing" align="center" style="margin-bottom:6.0pt;text-align:center; line-height:115%"><span class="NoSpacingChar"><i><span lang="EN-GB" style="font-size: 10pt; line-height: 115%; font-family: "Book Antiqua", serif;">(</span></i></span><span class="NoSpacingChar"><i><span lang="EN-GB" style="font-size:10.0pt; line-height:115%;font-family:"Book Antiqua",serif">2ND DEFENDANT/RESPONDENT/CROSS APPELLANT)</span></i></span><i><span lang="EN-GB" style="font-size: 10pt; line-height: 115%; font-family: "Book Antiqua", serif;"><o:p></o:p></span></i></p><p class="MsoNoSpacing" align="center" style="text-align:center;line-height:115%"><span lang="EN-GB" style="font-size:10.0pt;line-height:115%;font-family:"Book Antiqua",serif">[COURT OF APPEAL, ACCRA]<o:p></o:p></span></p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 0cm 1.0pt 0cm"> <p class="MsoNoSpacing" align="center" style="text-align:center;line-height:115%; border:none;mso-border-bottom-alt:solid windowtext 1.5pt;padding:0cm; mso-padding-alt:0cm 0cm 1.0pt 0cm"><b><span lang="EN-GB" style="font-size:10.0pt;line-height:115%;font-family:"Book Antiqua",serif">SUIT NO. H1/84/2018 </span></b><span lang="EN-GB" style="font-size:10.0pt;line-height:115%;font-family:"Book Antiqua",serif"> DATE: 9<sup>TH</sup> MAY, 2019<b><o:p></o:p></b></span></p> </div><p class="MsoNoSpacing" style="line-height:115%"><b><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family: "Book Antiqua",serif">COUNSEL:<o:p></o:p></span></b></p><p class="MsoNoSpacing" style="line-height:115%"><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua",serif">ANDREW APPAU-OBENG FOR THE PLAINTIFF/APPELLANT/CROSS RESPONDENT<o:p></o:p></span></p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 0cm 1.0pt 0cm"> <p class="MsoNoSpacing" style="line-height:115%;border:none;mso-border-bottom-alt: solid windowtext 1.5pt;padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm"><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua",serif">EMMANUEL ADDAI FOR THE DEFENDANTS/RESPONDENTS/CROSS-APPELLANTS<o:p></o:p></span></p> </div><p class="MsoNoSpacing" style="line-height:115%"><b><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family: "Book Antiqua",serif;mso-fareast-font-family:"Book Antiqua";mso-bidi-font-family: "Book Antiqua"">CORAM:<o:p></o:p></span></b></p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 0cm 1.0pt 0cm"> <p class="MsoNoSpacing" style="line-height:115%;border:none;mso-border-bottom-alt: solid windowtext 1.5pt;padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm"><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua",serif">FRANCIS KUSI-APPIAH J.A (PRESIDING), HENRY KWOFIE J.A, MERLEY WOOD (MRS) J.A<o:p></o:p></span></p> </div><p class="MsoNoSpacing" style="line-height:115%"><b><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family: "Book Antiqua",serif"><o:p> </o:p></span></b></p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt; padding:0cm 0cm 1.0pt 0cm"> <p class="MsoNoSpacing" align="center" style="text-align:center;line-height:115%; border:none;mso-border-bottom-alt:solid windowtext 1.5pt;padding:0cm; mso-padding-alt:0cm 0cm 1.0pt 0cm"><b><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua",serif">JUDGMENT<o:p></o:p></span></b></p> </div><p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify"><b><u><span lang="EN-US" style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua",serif">HENRY KWOFIE (JA):<o:p></o:p></span></u></b></p><p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify"><span lang="EN-US" style="font-size:12.0pt;line-height:115%;font-family: "Book Antiqua",serif">This appeal is from the judgment of the High Court (Commercial Division) Accra delivered on 2<sup>nd</sup> day of May 2017 in which the Court entered judgment in favour of the Plaintiff against the Defendants for the sum of GH</span><span lang="EN-US" style="font-size:12.0pt; line-height:115%;font-family:"Times New Roman",serif">₵</span><span lang="EN-US" style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua",serif">74,087.92 together with interest at simple interest rate from the date of the issue of the writ to the date of final payment. The Court further awarded cost of GH</span><span lang="EN-US" style="font-size:12.0pt;line-height:115%;font-family:"Times New Roman",serif">₵</span><span lang="EN-US" style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua",serif">3000 in favour of the Plaintiff.<o:p></o:p></span></p><p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify"><span lang="EN-US" style="font-size:12.0pt;line-height:115%;font-family: "Book Antiqua",serif"><o:p> </o:p></span></p><p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify"><span lang="EN-US" style="font-size:12.0pt;line-height:115%;font-family: "Book Antiqua",serif">The facts giving rise to this appeal are that the Plaintiff is a non-banking financial institution authorized by the Bank of Ghana to extend short-term credit facilities to customers. The Plaintiff’s case is that by a letter dated 8<sup>th</sup> December 2005, the 1<sup>st</sup> Defendant applied for a discounting facility of GH</span><span lang="EN-US" style="font-size:12.0pt;line-height:115%;font-family:"Times New Roman",serif">₵</span><span lang="EN-US" style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua",serif">45,000 from the Plaintiff against 1<sup>st</sup> Defendant’s receivables from the Controller and Accountant<b> </b>General’s<b> </b>Department which was approved and granted. It is the case of the Plaintiff that the 1<sup>st</sup> Defendant by several additional letters applied for and the Plaintiff approved and granted 17 additional loans to the 1<sup>st</sup> Defendant. That all these facilities were approved and granted at various compound interest rates. Plaintiff says that the securities for the facilities extended to the 1<sup>st</sup> Defendant were:<o:p></o:p></span></p><p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align: justify"><span lang="EN-US" style="font-size:12.0pt;line-height:115%;font-family: "Book Antiqua",serif"><o:p> </o:p></span></p><p class="MsoListParagraphCxSpFirst" style="margin-top:0cm;margin-right:0cm; margin-bottom:0cm;margin-left:54.0pt;margin-bottom:.0001pt;mso-add-space:auto; text-align:justify;text-indent:-36.0pt;mso-list:l3 level1 lfo1"><!--[if !supportLists]--><span lang="EN-US" style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua",serif; mso-fareast-font-family:"Book Antiqua";mso-bidi-font-family:"Book Antiqua"">i)<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span><!--[endif]--><span lang="EN-US" style="font-size:12.0pt; line-height:115%;font-family:"Book Antiqua",serif">A mortgage agreement executed between the 2<sup>nd</sup> Defendant and Plaintiff and <b><o:p></o:p></b></span></p><p class="MsoListParagraphCxSpLast" style="margin-top:0cm;margin-right:0cm; margin-bottom:0cm;margin-left:54.0pt;margin-bottom:.0001pt;mso-add-space:auto; text-align:justify;text-indent:-36.0pt;mso-list:l3 level1 lfo1"><!--[if !supportLists]--><span lang="EN-US" style="font-size:12.0pt;line-height:115%;font-family:"Book Antiqua",serif; mso-fareast-font-family:"Book Antiqua";mso-bidi-font-family:"Book Antiqua"">ii)<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: "Times New Roman";"> </span></span><!--[endif]--><span lang="EN-US" style="font-size:12.0pt; line-height:115%;font-family:"Book Antiqua",serif">An undertaking from the Controller and