KINGSLEY KWADWO APPIAH vs. FIRST ALLIED SAVINGS AND LOANS LIMITED [2019]DLHC6890

Date	2019-06-14
Suit No.	SUIT NO: OCC/32/2019
Citation No.	[2019]DLHC6890

HIS LORDSHIP JUSTICE DR. RICHMOND OSEI-HWERE

KWAKU YEBOAH APPIAH FOR THE PLAINTIFF/APPLICANT

[2019]DLHC6890
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													<main id="main" class="content" style="min-height: 60rem" >KINGSLEY
KWADWO APPIAH<o:p></o:p>vs.<o:p></o:p>FIRST ALLIED
SAVINGS AND LOANS LIMITED<o:p></o:p>[HIGH COURT (COMMERCIAL DIVISION), KUMASI]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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SUIT
NO: OCC/32/2019&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: 14TH JUNE, 2019<o:p></o:p>

</div>COUNSEL:
<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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KWAKU
YEBOAH APPIAH FOR THE PLAINTIFF/APPLICANT<o:p></o:p>

</div>CORAM: <o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
115%;mso-outline-level:1;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">HIS LORDSHIP JUSTICE DR.
RICHMOND OSEI-HWERE<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;
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</div>Before
me is an application for an order of the court to enter summary judgment
against the Defendant on the ground that the statement of defence discloses no
defence to the action. The application is premised on Order 14 rule 1 of the
High Court Civil Procedure Rules, 2004 (CI 47).<o:p></o:p>On
29th October, 2018, the Plaintiff/Applicant (hereinafter referred to as the
Applicant) filed a writ of summons against the Defendant/Respondent
(hereinafter referred to as the Respondent) for:<o:p></o:p>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order for the payment of the sum of Nine
Hundred and Thirty-Eight Thousand Ghana Cedis (GHC938,000.00) less Sixty
Thousand Ghana Cedis (GHC60,000.00) being the principal sum placed by the
Plaintiff with the Defendant as fixed deposit investment and the interest
accrued thereon as at 23rd October, 2018 and ought to have been paid
to him at the said date but which sum the Defendant has failed to pay despite
repeated demand.<o:p></o:p>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order for the payment of interest on the
sum of Eight Hundred and Seventy-Eight Thousand Ghana Cedis (GHC878,000.00)
being the balance of the investment mentioned in paragraph (a) supra at the
prevailing commercial bank lending rate from 23rd October, 2018
being the date of maturity of his investment to the date of final payment. <o:p></o:p>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order for the payment of Nine Hundred
and Thousand Ghana Cedis (GHC 900, 000.00) being money the Plaintiff placed
with the Defendant on 23rd March, 2018 as fixed deposit investment.<o:p></o:p>d.&nbsp;&nbsp;&nbsp;&nbsp;
An order for the payment of interest on the
said sum mentioned in paragraph (c) supra at the rate of Thirty-one (31%) being
the interest rate the Defendant was to pay to the Plaintiff on his fixed
deposit investment from 23rd March, 2018 to the date of final
payment.<o:p></o:p>e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Costs including legal fees.<o:p></o:p>According
to the applicant, the defence filed on behalf of the defendant does not reveal
any defence to the claim and for that matter no useful purpose will be served
by going into a full trial of the matter.<o:p></o:p>It
is the case of the applicant that several weeks have elapsed since the maturity
of his investments but the defendant has failed or refused to pay him after
several demands. That the defendant has denied its indebtedness to him in its
statement of defence just to prolong the case before this Court.<o:p></o:p>