BANK OF AFRICA GHANA LIMITED vs. ISAAC AMPONSAH-POKU AND ROYAL ASHANTI LIMITED [2019]DLHC9100

Date	2019-05-15
Suit No.	SUIT NO. CM/BFS/0482/2017
Citation No.	[2019]DLHC9100

HER LADYSHIP JUSTICE JENNIFER ABENA DADZIE

ANDREW APPAU ESQ. OF SENTINEL LAW NO. 120 4TH RINGWAY CLOSE

RINGWAY ESTATE (OPPOSITE ALLIED OIL HEAD OFFICE) OSU ACCRA COUNSEL FOR PLAINTIFF

DOROTHY DOLLEY FRIEDLANDER ESQ. OF ACA LAW CONSULT EQUITY CHAMBERS H/NO. 7 ADEMBRA ROAD CANTOMENTS ACCRA COUNSEL FOR DEFENDANTS

[2019]DLHC9100
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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">BANK OF AFRICA GHANA LIMITED<o:p></o:p>(PLAINTIFF)<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">ISAAC AMPONSAH-POKU AND ROYAL ASHANTI
LIMITED<o:p></o:p>(DEFENDANTS)<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>ANDREW
APPAU, ESQ., OF SENTINEL LAW, NO. 120, 4TH RINGWAY CLOSE, RINGWAY
ESTATE (OPPOSITE ALLIED OIL HEAD OFFICE), OSU, ACCRA, COUNSEL FOR PLAINTIFF<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%;tab-stops:298.8pt;border:none;mso-border-bottom-alt:
solid windowtext 1.5pt;padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">DOROTHY DOLLEY FRIEDLANDER, ESQ. OF ACA
LAW CONSULT, EQUITY CHAMBERS, H/NO. 7, ADEMBRA ROAD, CANTOMENTS, ACCRA, COUNSEL
FOR DEFENDANTS<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;
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:0cm;mso-padding-alt:1.0pt 0cm 1.0pt 0cm">JUDGMENT<o:p></o:p>

</div><o:p>&nbsp;</o:p>The
Plaintiff is a limited liability company incorporated under the laws of Ghana
and engaged in the business of banking. The 1st Defendant is an
employee of the 2nd Defendant, the guarantor of the facility of the
subject matter of this suit and a customer of the Plaintiff bank.<o:p></o:p>The
facts of the case as can be gleaned from the pleadings are that on the 22nd
of June, 2012, the 1st Defendant applied for and was granted a
personal loan in the sum of Thirty thousand Ghana cedis (Gh¢30,000.00) under
the Plaintiff’s Employee Personal Loan Scheme (EPLS). The terms of the loan, as
accepted by the 1st Defendant, were evidenced in a loan agreement to
which he duly applied his signature (Exhibit “A”). The interest rate as per the
agreement was 25% per annum subject to variation in line with the market trend.
Plaintiff avers that the facility was to attract a processing fee and a
commitment fee of 1% respectively and an insurance fee of 1.38%, all totalling
One thousand and fourteen Ghana cedis (GH¢1,014.00). An interest of 6% per
annum above normal interest was to be charged on any outstanding amount after
payment became due as a penalty. The facility was to expire after forty-eight
(48) months from the date of disbursement and was to be repaid in forty-eight
(48) equal monthly instalments and thereafter by post-dated cheques drawn on 1st
Defendant’s account. Plaintiff states that it was part of the conditions
precedent that a corporate guarantee from the 2nd Defendant (the
employer) should be submitted among others. All these terms were duly complied
with by the 1st Defendant as on the 18th June, 2012, the
2nd Defendant acting through its Chief executive officer, who is in
the person of the 1st Defendant issued an unconditional guarantee in
favour of the Plaintiff accepting liability for the 1st Defendant in
the event that there is a default.<o:p></o:p>It is Plaintiff’s contention that when
1st Defendant subsequently defaulted on the payment despite repeated
demands, a call was made on the 2nd Defendant to fulfil the
obligation under the terms of the guarantee but they failed to make good on
their promise. Plaintiff further avers that as at June 30, 2016, the liability
of the Defendants stood at Seventy-Nine Thousand, Nine Hundred and Seventy-Six
Ghana cedis and Eighty-Seven pesewas (GH¢79,976.87) as evidenced by Exhibit “C”. Plaintiff therefore
instituted this action against the Defendants jointly and severally for the
following reliefs:<o:p></o:p>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The recovery of the sum of Seventy-Nine Thousand, Nine Hundred and
Seventy-Six Ghana cedis and Eighty-Seven pesewas (GH¢ 79,976.87) being the
amount outstanding on the Employee Loan Scheme granted by the Plaintiff to the
1st Defendant.<o:p></o:p>