IDEAL FINANCE LIMITED (PLAINTIFF) vs. YH COMPANY LIMITED & 2 ORS. (DEFENDANT) [2019]DLHC7169

Date	2019-03-29
Suit No.	SUIT NO. CM/BFS/0726/2016
Citation No.	[2019]DLHC7169

HIS LORDSHIP GEORGE K. KOOMSON (J).

BRIGHT OKYERE-ADJEKUM FOR PLAINTIFF

ABUKARI ALHASSAN ABDULAI FOR DEFENDANTS

[2019]DLHC7169
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													<main id="main" class="content" style="min-height: 60rem" >IDEAL
FINANCE LIMITED<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>YH COMPANY
LIMITED &amp; 2 ORS.<o:p></o:p>(DEFENDANT)<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. CM/BFS/0726/2016&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 29TH MARCH, 2019<o:p></o:p>

</div>COUNSEL: <o:p></o:p>BRIGHT
OKYERE-ADJEKUM FOR 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">

ABUKARI
ALHASSAN ABDULAI FOR DEFENDANTS<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;
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<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 application for Summary
Judgment. I have read the application and the affidavits filed by the parties.
Regard has been given to Order 14 rule 1 (1) of the (High Court Civil
Procedure) Rules, 2004 (C.I. 47) for judgment in favour of Plaintiff against
Defendant which provides that;<o:p></o:p>“Where
in an action a Defendant has been served with a statement of claim and has
filed appearance, the Plaintiff may on notice apply to the Court for judgment
against the Defendant on the ground that the Defendant has no defence to a
claim included in the Writ, or to a particular part on such a claim, or that
the Defendant has no defence to such a claim or part of claim, except as to the
amount of any damages.”<o:p></o:p><o:p>&nbsp;</o:p>Consideration has also been given to
the principles governing the grant of applications of this nature. It is
observed that the Defendant did not file any affidavit in opposition though
Defendant was served on the 19th day of March, 2019. <o:p></o:p>A brief summary of the facts giving
rise to this case is that, on or about 24th October, 2013, at 1st
Defendant’s request, the Plaintiff granted 1st Defendant a Business
Loan in the sum of GH¢190,200.00 to enable 1st Defendant purchase a
bulldozer. The facility was to attract interest at the rate of 3.5% per month
and was to be repaid within a period of twelve (12) months from the date of
disbursement. The facility&nbsp; was secured
with the&nbsp; following:<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Director’s
Guarantee and Key man insurance by 2nd Defendant.<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Assignment
of Caterpillar D6H II dozer with serial number 6CF04178 to Plaintiff.<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Assignment
of Toyota Hilux with registration number GT 8211-09 to Plaintiff.<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;">d.&nbsp;&nbsp;&nbsp;&nbsp;
Assignment
of Toyota Rav 4 with registration number GE 3611-13 to Plaintiff.<o:p></o:p>