MABANI SEVEN COMPANY LIMITED (PLAINTIFF) vs. STAR ASSURANCE COMPANY LIMITED & 4 ORS. (DEFENDANTS) [2019]DLHC7208

MABANI SEVEN COMPANY LIMITED (PLAINTIFF) vs. STAR ASSURANCE COMPANY LIMITED & 4... [2019]DLHC7208

Date	2019-05-22
Suit No.	SUIT NO. CM/OCC/0426/2017
Citation No.	[2019]DLHC7208

HIS LORDSHIP GEORGE K. KOOMSON (J).

DAVID BOAFO LED BY KIZITO BEYUO FOR THE PLAINTIFF

CORNELIUS BENEWOATSOR FOR 2ND AND 4TH DEFENDANTS

[2019]DLHC7208
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													<main id="main" class="content" style="min-height: 60rem" >MABANI SEVEN COMPANY
LIMITED<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>STAR ASSURANCE COMPANY
LIMITED&nbsp;&nbsp;&nbsp; &amp; 4 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. CM/OCC/0426/2017&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &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: 22ND
MAY, 2019<o:p></o:p>

</div>COUNSEL: <o:p></o:p>DAVID BOAFO LED BY KIZITO
BEYUO FOR THE 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">

CORNELIUS
BENEWOATSOR FOR 2ND AND 4TH 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;
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 application filed by the 2nd
and 4th Defendant/Applicant seeking for a Stay of Execution of the
summary judgment made by this Court on 18th February 2019. I have
read the Application and the various affidavits filed by the parties. I have
also considered the oral submissions made by both Counsel in support and in
opposition to the application. <o:p></o:p>A brief summary of the facts giving
rise to this application are that the Plaintiff/Judgment/Creditor/Respondent
herein issued a writ of summons against the 5 Defendants asking for the
following reliefs;<o:p></o:p>i.<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Payment
of the sum of USD8,627,829.93 which is the sum outstanding and due the
Plaintiff on the Advanced Payment Bond SAC-01-APB-15-02531-USD-P.<o:p></o:p><o:p>&nbsp;</o:p>ii.<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest
on the said USD 8, 627,829.93 from 16th May 2017 till date of final
payment at the prevailing commercial rate.<o:p></o:p><o:p>&nbsp;</o:p>iii.<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Payment
of the sum of USD 3, 116,690.26 which is the sum outstanding and due the
Plaintiff on the Advanced Payment Bond SAC-01-APB-15-02531-USD-P.<o:p></o:p>iv.<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest
on the said USD3, 116,690.26 from 16th May 2017 till the date of
final payment at the prevailing commercial rate.<o:p></o:p><o:p>&nbsp;</o:p>v.<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbs</main>