UNIVERSAL CO-OPERATIVE COMMODITIES LTD AND OTHERS vs . BOB COMMODITIES COMPANY LIMITED AND OTHERS [2019]DLHC6841

UNIVERSAL CO-OPERATIVE COMMODITIES LTD AND OTHERS vs . BOB COMMODITIES COMPANY L... [2019]DLHC6841

Date	2019-04-30
Suit No.	SUIT NO. OCC 05/2017
Citation No.	[2019]DLHC6841

DR. RICHMOND OSEI-HWERE J

KWAME ANTWI AFRIYIE FOR THE PLAINTIFF

EDWIN SARFO ANNAN FOR THE 1ST TO 4TH DEFENDANTS

[2019]DLHC6841
																																						<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" >UNIVERSAL CO-OPERATIVE
COMMODITIES LTD AND OTHERS<o:p></o:p>vs .<o:p></o:p>BOB COMMODITIES COMPANY
LIMITED AND OTHERS<o:p></o:p>[HIGH COURT, KUMASI]<o:p></o:p><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">

SUIT NO. OCC 05/2017&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; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; DATE: 30TH APRIL, 2019<o:p></o:p>

</div>&nbsp;COUNSEL:<o:p></o:p>KWAME
ANTWI AFRIYIE FOR THE PLAINTIFF<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">

EDWIN
SARFO ANNAN FOR THE 1ST TO 4TH DEFENDANTS<o:p></o:p>

</div>CORAM:<o:p></o:p>DR.
RICHMOND OSEI-HWERE, J<o:p></o:p><div style="mso-element:para-border-div;border-top:solid windowtext 1.5pt;
border-left:none;border-bottom:solid windowtext 1.5pt;border-right:none;
padding:1.0pt 0in 1.0pt 0in">

<p class="MsoNormal" align="center" style="text-align:center;line-height:115%;
border:none;mso-border-top-alt:solid windowtext 1.5pt;mso-border-bottom-alt:
solid windowtext 1.5pt;padding:0in;mso-padding-alt:1.0pt 0in 1.0pt 0in">JUDGMENT<o:p></o:p>

</div>By
a Writ of Summons and Statement of Claim dated the 17th day of
August, 2016 the Plaintiffs are seeking the following reliefs against the
Defendants herein:<o:p></o:p>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A
declaration that the 1st defendant has breached the terms and
conditions contained in the offer letter the 1st defendant offered (sic) to
take over the 1st plaintiff dated 23rd April, 2015 which the 1st
plaintiff accepted same.<o:p></o:p>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An
order of this Honourable Court to nullify or cancel the takeover offer the 1st
defendant offered to the 1st plaintiff company dated 23rd April 2015.<o:p></o:p>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; A
declaration that the amount standing in the account of the 1st
plaintiff at the 5th defendant bank is not for the defendants but rather for
the 1st plaintiff.<o:p></o:p>d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An
injunction order to restrain the defendants especially the 5th defendant from
allowing any of the defendants to withdraw any amount from the 1st plaintiff’s
account as stated in paragraph 29 of the Statement of Claim at the 5th
defendant Bank or in any way transact business with the 1st plaintiff’s
account.<o:p></o:p>e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cost<o:p></o:p>f.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any further order (s) as this Court
may deem fit.<o:p></o:p>The
1st to 4thDefendantsfiled their statement of defence on
the 3rd of October, 2016. Subsequently, the said Defendants upon an
application amended their statement of defence and same was filed on the 30th
day of April, 2018. In the amended statement of defence, they counter claimed
against the Plaintiffs as follows:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order of this honourable court
confirming the validity of the takeover agreement between the 1st plaintiff and
the 1st defendant.<o:p></o:p>Or<o:p></o:p>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; In
the alternative an order of this court compelling the plaintiffs to refund to
the 1st, 2nd, 3rd&amp; 4th defendants GH¢781,000.00 being the amount the 1st,
2nd, 3rd&amp; 4th defendants have paid out of the total indebtedness of the 1st
plaintiff.<o:p></o:p>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; And
a further order compelling the plaintiffs to refund the GH¢200,000.00 the
plaintiffs took as consideration for the takeover.<o:p></o:p>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest
on the said amounts from April 2015 until date of final payment.<o:p></o:p>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; An
order of this honourable court compelling the 2nd plaintiff to render accounts
of his stewardship of the 1st plaintiff after he was appointed the managing
director after the takeover of the 1st plaintiff by the 1st defendant.<o:p></o:p>The Plaintiffs’ Case<o:p></o:p>From
the pleadings, the 2nd&amp; 3rd Plaintiffs claim that,
they are the directors and shareholders of the 1st plaintiff
company. They further state that, the 1st to 4th
defendants in a letter dated 23rd April 2015 decided to acquire the
1st plaintiff for valuable consideration.<o:p></o:p>The
plaintiffs claim they accepted the offer of the 1st to 4th
defendants per letter dated 28th April 2018. The plainti</main>