NOBLE FALCON HOLDINGS & 2ORS (PLAINTIFF) vs. IDEAL FINANCE LTD. (DEFENDANT) [2019]DLHC7176

Date	2019-06-19
Suit No.	SUIT NO. CM/RPC/0464/2018
Citation No.	[2019]DLHC7176

HIS LORDSHIP GEORGE K. KOOMSON (J).

HANS AWUDEY FOR PLAINTIFF

AKYERE ASUA-KWASI FOR BRIGHT OKYERE ADJEKUM FOR DEFENDANT

[2019]DLHC7176
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													<main id="main" class="content" style="min-height: 60rem" >NOBLE FALCON HOLDINGS
&amp; 2ORS<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>IDEAL FINANCE LTD.<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/RPC/0464/2018&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 19TH JUNE, 2019<o:p></o:p>

</div>COUNSEL: <o:p></o:p>HANS AWUDEY 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">

AKYERE
ASUA-KWASI FOR BRIGHT OKYERE ADJEKUM FOR DEFENDANT<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>I
have examined the applications on the docket and the issues arising therefrom.
I am of the view that the pleadings of both parties are certain on the fact
that the property which the Plaintiffs used to secure the facility should be
sold.&nbsp; Both Counsel have agreed that the
said property is to be sold.&nbsp; Parties
further agree that the debt owed by the Plaintiffs to the Defendant is as at 25th
February, 2018 is GH¢200,482.42.&nbsp; It has
further been agreed by both parties that Judgment should be entered for the
Defendant in the sum of GH¢200,482.42.<o:p></o:p><o:p>&nbsp;</o:p>Accordingly, Judgment is entered for
the Defendant in the sum of GH¢200,482.42.&nbsp; It is further ordered that the property which
was used as security and is the subject matter of the dispute herein should be
sold by private treaty by the parties and the proceeds applied to the Judgment
debt of the Plaintiffs.&nbsp; Given the
compromise reached by the parties, I do not think it would be fair for the
Court to award any costs.&nbsp; Parties are to
bear their respective costs.&nbsp; The
Defendant is to recover interest on the outstanding balance as at 22nd
February, 2018 at the agreed contractual rate of 7% per month from 23rd
February, 2018 to 22nd June, 2018. No further interest is to be
imposed on the Judgment debt.<o:p></o:p>

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