BENJAMIN NTI vs. UTRAK CAPITAL MANAGEMENT LIMITED [2019]DLHC9230

Date	2019-02-13
Suit No.	SUIT NO. OCC 34/2019
Citation No.	[2019]DLHC9230

HIS LORDSHIP JUSTICE DR. RICHMOND OSEI-HWERE

JENNIFER GYAMBEA FOR MARIAM AGYAMAN GYASI JAWHARY (MRS.) FOR PLAINTIFF/APPLICANT

[2019]DLHC9230
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													<main id="main" class="content" style="min-height: 60rem" >BENJAMIN NTI<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>UTRAK CAPITAL MANAGEMENT LIMITED.<o:p></o:p>(DEFENDANT)<o:p></o:p>[HIGH COURT (COMMERCIAL DIVISION), KUMASI]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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SUIT
NO.&nbsp; OCC 34/2019&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:
13TH FEBRUARY, 2019<o:p></o:p>

</div>COUNSEL:<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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JENNIFER
GYAMBEA FOR MARIAM AGYAMAN GYASI JAWHARY (MRS.) FOR PLAINTIFF/APPLICANT<o:p></o:p>

</div>CORAM:<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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HIS LORDSHIP JUSTICE DR. RICHMOND OSEI-HWERE, HIGH COURT
JUDGE<o:p></o:p>

</div><o:p>&nbsp;</o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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</div><o:p>&nbsp;</o:p>Before
me is an application for an order of the court to enter summary judgment
against the Defendant on the ground that the statement of defense discloses no
defence to the action. The application is premised on Order 14 rule 1 of the High
Court Civil Procedure Rules, 2004 (CI 47).<o:p></o:p>On
24th January, 2019, the Plaintiff/Applicant (hereinafter referred to
as the Applicant) filed a writ of summons against the Defendant/Respondent
(hereinafter referred to as the Respondent) for:<o:p></o:p>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A declaration that the Defendant has breached
the investment management agreements dated 1st June, 2018 and 12th
June, 2018 bearing Reference numbers UCML/BN/06-18/4492 and UCML/BN/06-18/4897.<o:p></o:p>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order compelling the payment of the sum of
One Hundred and Twelve Thousand Six Hundred and Twelve Ghana Cedis, fifty
pesewas (GHC112,612.50) by the Defendant to the Plaintiff being the principal
sum of One Hundred and Five Thousand Ghana Cedis (GHC105,000.00) invested by
the Plaintiff with the Defendant and interest payable thereon under the
investment management agreement afore-mentioned.<o:p></o:p>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest on the said sum of One Hundred and
Twelve Thousand Six Hundred and Twelve Ghana Cedis, Fifty pesewas
(GHC112,612.50) at the prevailing commercial bank lending rate from 1st
September, 2018 till date of final payment.<o:p></o:p>d.&nbsp;&nbsp;&nbsp;&nbsp;
An order for the payment of the sum of
Seventy-five thousand two hundred and fifty Ghana cedis (GHC75,250.00) being
the principal sum of Seventy Thousand Ghana Cedis (GHC70,000.00) invested by
the Plaintiff with Defendant and the interest payable thereon under the
investment management agreement afore-mentioned.<o:p></o:p>e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest on the said sum of Seventy-Five
Thousand Two Hundred and Fifty Ghana Cedis (GHC75,250.00) at the prevailing
commercial bank lending rate from 12th September, 2018 till date of
final payment.<o:p></o:p>f.&nbsp;&n</main>