DALEX FINANCE & LEASING CO. LTD vs. CONSTRO EXPERT LTD AND MICHAEL NYANTEH [2019]DLHC10095

Date	2019-06-14
Suit No.	SUIT NO. BFS/189/2012
Citation No.	[2019]DLHC10095

HIS LORDSHIP JUSTICE GEORGE BUADI J.

KOJO ASARE BOATENG FOR VIDA AKANELSI (HOLDING THE BRIEF OF SAMUEL CODJOE) FOR PLAINTIFF

THEOPHILUS DONKOR FOR DEFENDANTS.

[2019]DLHC10095
																																						<div class="restriction-wrapper">
														<div class="container-lg">
															<div class="row">
																<div class="col-md-12 restricted-content">
																	<div class="restricted-content-img-wrapper">
																		<div class="lock-icon bounce-7">
																			<img class=""
																				src="https://www.dennislawgh.com/dl-assets/dl-images/lock-content.png"
																				alt="Subscription based content">
																		</div>
																	</div>
																	 
																		<a href="https://www.dennislawgh.com/login"
																		class="btn btn-primary btn-lg"
																		style="font-family: 'open sans'; text-transform: capitalize; border-radius: 8px"> 
																		Login to Read Full Case </a>
																	 
																	
																</div>
															</div>
														</div>
													</div>
													<main id="main" class="content" style="min-height: 60rem" >DALEX
FINANCE &amp; LEASING CO. LTD<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>CONSTRO
EXPERT LTD AND MICHAEL NYANTEH&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; (DEFENDANT)<o:p></o:p>[HIGH
COURT (COMMERCIAL DIVISION 5) ACCRA]<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0cm 0cm 1pt;">

SUIT
NO. BFS/189/2012&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: 14 JUNE 2019<o:p></o:p>

</div>COUNSEL:<o:p></o:p>KOJO ASARE
BOATENG FOR VIDA AKANELSI (HOLDING THE BRIEF OF SAMUEL CODJOE) FOR PLAINTIFF<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0cm 0cm 1pt;">

THEOPHILUS
DONKOR FOR DEFENDANTS.<o:p></o:p>

</div>CORAM:<o:p></o:p>HIS LORDSHIP JUSTICE GEORGE BUADI J.<o:p></o:p><div style="border-top-width: 1.5pt; border-top-color: windowtext; border-left: none; border-bottom-width: 1.5pt; border-bottom-color: windowtext; border-right: none; padding: 1pt 0cm;">

<p class="MsoNormal" align="center" style="text-align:center;line-height:115%;
tab-stops:27.0pt;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">JUDGEMENT<o:p></o:p>

</div>&nbsp;&nbsp;<o:p></o:p>1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Background<o:p></o:p>On 21 March
2017, plaintiff commenced this action by writ of summons for the following
reliefs against defendants jointly and severally:<o:p></o:p>&nbsp;i&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
sum of GH<span style="font-size:12.0pt;font-family:&quot;Calibri&quot;,sans-serif;mso-ascii-theme-font:
minor-latin;mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;
mso-hansi-theme-font:minor-latin;mso-bidi-font-family:&quot;Times New Roman&quot;;
mso-bidi-theme-font:minor-bidi;position:relative;top:3.0pt;mso-text-raise:-3.0pt;
mso-ansi-language:EN-US;mso-fareast-language:EN-US;mso-bidi-language:AR-SA"><v:shapetype id="_x0000_t75" coordsize="21600,21600" o:spt="75" o:preferrelative="t" path="m@4@5l@4@11@9@11@9@5xe" filled="f" stroked="f">
 <v:stroke joinstyle="miter">
 <v:formulas>
 <v:f eqn="if lineDrawn pixelLineWidth 0">
 <v:f eqn="sum @0 1 0">
 <v:f eqn="sum 0 0 @1">
 <v:f eqn="prod @2 1 2">
 <v:f eqn="prod @3 21600 pixelWidth">
 <v:f eqn="prod @3 21600 pixelHeight">
 <v:f eqn="sum @0 0 1">
 <v:f eqn="prod @6 1 2">
 <v:f eqn="prod @7 21600 pixelWidth">
 <v:f eqn="sum @8 21600 0">
 <v:f eqn="prod @7 21600 pixelHeight">
 <v:f eqn="sum @10 21600 0">
 </v:f></v:f></v:f></v:f></v:f></v:f></v:f></v:f></v:f></v:f></v:f></v:f></v:formulas>
 <v:path o:extrusionok="f" gradientshapeok="t" o:connecttype="rect">
 <o:lock v:ext="edit" aspectratio="t">
</o:lock></v:path></v:stroke></v:shapetype><v:shape id="_x0000_i1025" type="#_x0000_t75" style="width:5.25pt;
 height:14.25pt">
 <v:imagedata src="file:///C:/Users/aggie/AppData/Local/Temp/msohtmlclip1/01/clip_image001.png" o:title="" chromakey="white">
</v:imagedata></v:shape>1,165,074.87 (One Million, One Hundred and Sixty
Five Thousand Seventy Four Cedis Eighty Seven Pesewas) which said sum is the
outstanding balance of the facility granted Defendant at a monthly compound
interest of Compound monthly interest of 5% from the 16th day of
February, 2017 till date of final payment.<o:p></o:p>ii&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost inclusive of legal cost and fees
of counsel.<o:p></o:p>AND
OR <o:p></o:p>iii&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Judicial
sale of 2nd Defendant’s mortgaged property situate at Number 8,
North Ring Road, ACP Estate, Accra.<o:p></o:p>&nbsp;2.0&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Statement
of parties’ cases<o:p></o:p>2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Plaintiff’s
case<o:p></o:p>Plaintiff
is a finance and leasing company. 1st defendant is a registered local company that
is engaged in general purchase and supplies, import and export and sale of
roofing sheets, whilst 2nd defendant is its managing director. Pursuant to
leave, plaintiff amended its statement of claim that accompanied the writ of
summons. Upon security of repayment that 2nd defendant provided evident
by a landed property situate at No. 8, North Ring Road ACP Estate Accra,
plaintiff granted 1st defendant a loan facility of GH<span style="font-size:12.0pt;font-family:&quot;Calibri&quot;,sans-serif;mso-ascii-theme-font:
minor-latin;mso-fareast-font-family:Calibri;mso-fareast-theme-font:minor-latin;
mso-hansi-theme-font:minor-latin;mso-bidi-font-family:&quot;Times New Roman&quot;;
mso-bidi-theme-font:minor-bidi;position:relative;top:3.0pt;mso-text-raise:-3.0pt;
mso-ansi-language:EN-US;mso-fareast-language:EN-US;mso-bidi-language:AR-SA"><v:shape id="_x0000_i1025" type="#_x0000_t75" style="width:5.25pt;height:14.25pt">
 <v:imagedata src="file:///C:/Users/aggie/AppData/Local/Temp/</main>