MELVILLE ENTERPRISE (PLAINTIFF) vs. THE 10,000 METRIC TONNES & 2 ORS (DEFENDANTS) [2019]DLHC7135

MELVILLE ENTERPRISE (PLAINTIFF) vs. THE 10,000 METRIC TONNES & 2 ORS (DEFENDANTS... [2019]DLHC7135

Date	2019-05-31
Suit No.	SUIT NO: CGS/01/14
Citation No.	[2019]DLHC7135

HIS LORDSHIP SAMUEL K. A. ASIEDU J.

MOHAMMED B. SAHNOON ESQ. FOR PLAINTIFF/RESPONDENT.

A.A. AKUAKU JNR. ESQ. FOR RECEIVERS/APPLICANTS.

[2019]DLHC7135
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													<main id="main" class="content" style="min-height: 60rem" >MELVILLE ENTERPRISE<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>THE 10,000 METRIC TONNES
&amp; 2 ORS<o:p></o:p>(DEFENDANTS)<o:p></o:p><o:p>&nbsp;</o:p>[HIGH COURT (COMMERCIAL
DIVISION), 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">

SUIT
NO: CGS/01/14&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; &nbsp; &nbsp; &nbsp; &nbsp;DATE: 31ST MAY, 2019<o:p></o:p>

</div>COUNSEL: <o:p></o:p>MOHAMMED B. SAHNOON ESQ.,
FOR PLAINTIFF/RESPONDENT.<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">

A.A.
AKUAKU JNR.&nbsp; ESQ., FOR
RECEIVERS/APPLICANTS.<o:p></o:p>

</div>CORAM:<o:p></o:p>HIS LORDSHIP SAMUEL K. A.
ASIEDU, J.<o:p></o:p><div style="mso-element:para-border-div;border-top:solid windowtext 1.5pt;
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padding:1.0pt 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-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">RULING<o:p></o:p>

</div>The instant application seeks an order to “stay
proceedings against 1st defendant/Judgment/debtor pursuant to
section 128 of Act 930”.<o:p></o:p>The Court wishes to state that the 1st
defendant in the case is not UT Bank Ghana Limited which the applicant claims
is in receivership and that the applicant is the receiver.&nbsp; The 1st defendant at all material
times is The 10,000 Metric Tonnes of cargo of Crude Oil, then laden on board
the MT Olympic faith.<o:p></o:p>The said receivers have therefore no right or
capacity to represent the 1st defendant in this matter. Further to
the above the 1st defendant has not been served with any hearing
notice or order to appear in this matter for examination.<o:p></o:p>During the hearing of this case, an order was made
by the court for the sale of the 1st defendant with a further order
that part of the proceeds be kept by the Registrar of the court who shall invest
same in an interest yielding account for the benefit of the victorious party.<o:p></o:p>The Registrar invested the money with UT Bank. In
the meantime UT Bank furnished the Registrar with statement of account as
evidence of the opening and the deposit of the money by the Registrar.<o:p></o:p>Unfortunately, after judgment was given, the
Registrar made a request for the withdrawal of the deposit.&nbsp; It so happened that around the same time UT
Bank was placed under Receivership.&nbsp;
However there was a publication by the BOG that all deposits were safe
and intact and available to customers who were directed to go to GCB which the
publication indicated had taken over all deposits.<o:p></o:p>The Registrar attempted to withdraw the money but
GCB which, we were told, took over all deposits refused to pay the money to the
Registrar for onward payment to the plaintiff who emerged victorious in the
suit.<o:p></o:p>According to GCB, they did not take over the money
which was deposited in UT bank by the Registrar of the Commercial Court upon
the orders of the court.<o:p></o:p>Hence, the impression created by the publication
from BOG is that although it has been announced that all deposits have been
taken over by GCB yet, GCB says it has not taken over any money belonging to
the Registrar of the Commercial Court.<o:p></o:p>Hence, it is very important for the court to find
out which of these three persons has custody of the Court’s money or
deposit.&nbsp; Is the deposit with GCB or is
it with the Receivers?<o:p></o:p>It is for this reason that the plaintiff&nbsp; served processes on BOG, GCB as well as the
Receivers to assist the court to find out who is holding on to its money.<o:p></o:p>UT Bank was not a party to the original suit and
there was no action or proceedings pending against UT Bank for which Counsel
could invoke section 128 (c) of Act 930 to stay.<o:p></o:p>Section 128 (c) provides that:<o:p></o:p>128.&nbsp;&nbsp;&nbsp;Effects of receivership<o:p></o:p>When a receiver has taken possession of a bank or specialised
deposit-taking institution—<o:p></o:p>