EDC STOCKBROKERS LTD (PLAINTIFF) vs. CIG MICROFINANCE LIMITED & ORS. (DEFENDANTS) IGS FINANCIAL SERVICES (CLAIMANAT) [2019]DLHC7164

EDC STOCKBROKERS LTD (PLAINTIFF) vs. CIG MICROFINANCE LIMITED & ORS. (DEFENDANTS... [2019]DLHC7164

Date	2019-03-14
Suit No.	SUIT NO. RPC/344/07
Citation No.	[2019]DLHC7164

HIS LORDSHIP GEORGE K. KOOMSON (J).

DORA OCQUAYE NORTEY FOR CLAIMANT

ASARE DANQUAH FOR EXECUTION CREDITOR

[2019]DLHC7164
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													<main id="main" class="content" style="min-height: 60rem" >EDC
STOCKBROKERS LTD<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>CIG
MICROFINANCE LIMITED &amp; ORS.<o:p></o:p>(DEFENDANTS)<o:p></o:p>IGS
FINANCIAL SERVICES<o:p></o:p>(CLAIMANAT)<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. RPC/344/07&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; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; DATE: 14TH MARCH, 2019<o:p></o:p>

</div>COUNSEL: <o:p></o:p>DORA
OCQUAYE NORTEY FOR CLAIMANT<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">

ASARE
DANQUAH FOR EXECUTION CREDITOR<o:p></o:p>

</div>CORAM:<o:p></o:p>HIS
LORDSHIP GEORGE K. KOOMSON (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="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>This
is an interpleader proceeding initiated by the Claimant.&nbsp; The Court on the 13th February, 2019 ordered
the Claimant and the Execution Creditor to file their respective affidavits of
interest in the property attached to enable the Court determine the issue
summarily.<o:p></o:p><o:p>&nbsp;</o:p>The Claimant has filed its affidavit
since 28th February, 2019.&nbsp;
The Execution Creditor has failed to file its affidavit of
interest.&nbsp; I have examined the affidavit
of interest filed by the Claimant herein.<o:p></o:p>Perusing the documents attached to the
affidavit of interest filed by the Claimant, it is clear that the Claimant has
a secured interest in the nature of a mortgage over the property attached by
the Execution Creditor.&nbsp; Counsel for
Execution Creditor informs the Court that he concedes that the Claimant has a
secured interest over the property attached.<o:p></o:p>It is my view that the interest of the
Claimant supersedes that of the Execution Creditor in terms of priorities.&nbsp; It is therefore ordered that the attached
properties with House No. 2, on the Boundary Road, East Legon, Accra and House
No. GDA, MAD/589/91, Madina near Accra Training College be discharged by the
Deputy Sheriff.&nbsp; The claim of the
Claimant is accordingly upheld.<o:p></o:p>&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; <o:p></o:p>

&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp;<o:p></o:p></main>