REPROGRAPHIC RIGHT ORGANISATION OF GHANA vs. IDEAL CAPITAL PARTNERS AND 6 ORS [2019]DLHC9042

Date	2019-05-08
Suit No.	SUIT NO. CM/BDC/0421/2019
Citation No.	[2019]DLHC9042

HER LADYSHIP JUSTICE JENNIFER ABENA DADZIE

JOHN ABRAHAM LARKAI ESQ. OF ELAH LAW OFFICES ACCRA COUNSEL FOR PLAINTIFF/RESPONDENT

DR. KWEKU AINUSON ESQ. OF AB LEXMALL & ASSOCIATES ACCRA COUNSEL FOR DEFENDANTS/APPLICANTS

[2019]DLHC9042
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													<main id="main" class="content" style="min-height: 60rem" ><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:Calibri;mso-bidi-font-family:&quot;Times New Roman&quot;;
color:#00B0F0;mso-ansi-language:EN-US">REPROGRAPHIC RIGHT ORGANISATION OF GHANA<o:p></o:p>(PLAINTIFF/RESPONDENT)<o:p></o:p><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:Calibri;mso-bidi-font-family:&quot;Times New Roman&quot;;
color:#00B0F0;mso-ansi-language:EN-US">vs.<o:p></o:p><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:Calibri;mso-bidi-font-family:&quot;Times New Roman&quot;;
color:#00B0F0;mso-ansi-language:EN-US">IDEAL CAPITAL PARTNERS AND 6 ORS<o:p></o:p>(DEFENDANTS/RESPONDENTS)<o:p></o:p>[HIGH
COURT, (COMMERCIAL DIVISION) ACCRA]<o:p></o:p><o:p>&nbsp;</o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0cm 0cm 1.0pt 0cm">

</div>COUNSEL:<o:p></o:p>JOHN ABRAHAM LARKAI, ESQ., OF ELAH LAW
OFFICES, ACCRA, COUNSEL FOR PLAINTIFF/RESPONDENT<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<p class="MsoNormal" style="margin-bottom:0cm;margin-bottom:.0001pt;text-align:
justify;line-height:115%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">DR.
KWEKU AINUSON, ESQ., OF AB LEXMALL &amp; ASSOCIATES, ACCRA, COUNSEL FOR
DEFENDANTS/APPLICANTS<o:p></o:p>

</div>CORAM:<o:p></o:p>HER LADYSHIP JUSTICE JENNIFER ABENA DADZIE<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:0cm;margin-bottom:.0001pt;
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solid windowtext 1.5pt;mso-border-bottom-alt:solid windowtext 1.5pt;padding:
0cm;mso-padding-alt:1.0pt 0cm 1.0pt 0cm">RULING<o:p></o:p>

</div><o:p>&nbsp;</o:p>The Plaintiff/Respondent is involved in the
management of the reprographic rights of authors by collecting royalties from
the users of the works of its members and equitably distributing same to its
members annually. The 1st Defendant/Applicant on the other hand is a
non-banking financial institution licensed to undertake the business of assets
and investment management from the public whiles the 2nd to 8th
Defendants/Respondents are directors of the 1st Defendant Company.<o:p></o:p>The material facts which gave rise to this application
are that on the 13th of March, 2018, Plaintiff/Applicant invested
the sum of Three Hundred Ghana cedis (GH¢ 300,000.00) with the 1st Defendant/Respondent
Company for a 90- day tenor with maturity date of 12th June, 2018 at
the interest of twenty-two per centum (22%) per annum. Plaintiff/Respondent
avers that after the said maturity date, it made a demand on the 1st
Defendant/Applicant for the payment of the claim together with interest,
however, Plaintiff/Applicant only paid a paltry sum of Ten Thousand Ghana cedis
(GH¢ 10,000.00), only. Plaintiff/Respondent contends that as at September,
2018, the value of the investment stood at Two Hundred and Forty-four Thousand,
One Hundred and Eighty-seven Ghana cedis, Fourteen pesewas (GH¢ 244,187.14) and
when they made further demand for the funds, 1st Defendant/Respondent
paid Fifty Thousand Ghana cedis (GH¢ 50,000.00) leaving the balance of One
Hundred and Ninety-four Thousand One Hundred and Eighty-seven Ghana cedis,
Fourteen pesewas (GH¢194,187.14) which is currently outstanding.<o:p></o:p>Plaintiff/Respondent caused a writ of summons to be
issued out of the Registry of this Court against the Defendants/Applicants on 13th
February, 2019 claiming against the Defendants/Applicants, jointly and
severally, the following reliefs:<o:p></o:p>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The
sum of GH¢194,187.14 being the outstanding maturity value of Plaintiff’s
investment with the Defendants.<o:p></o:p>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest
on the said sum from 28th August, 2018 to date of final payment<o:p></o:p>c.