LAWRENCE BRUCE KYEI vs. FIRST ALLIED SAVINGS & LOANS LTD [2020]DLHC9172

Date	2020-01-31
Suit No.	SUIT NO. RPC 54/2018
Citation No.	[2020]DLHC9172

HIS LORDSHIP JUSTICE DR. RICHMOND OSEI-HWERE

S. ANAGLATE FOR A. A. ACKUAKU FOR DEFENDANT/JUDGMENT DEBTOR/APPLICANT

KWAMINA MENSAH FOR PLAINTIFF/JUDGMENT CREDITOR/RESPONDENT

[2020]DLHC9172
																																						<div class="restriction-wrapper">
														<div class="container-lg">
															<div class="row">
																<div class="col-md-12 restricted-content">
																	<div class="restricted-content-img-wrapper">
																		<div class="lock-icon bounce-7">
																			<img class=""
																				src="https://www.dennislawgh.com/dl-assets/dl-images/lock-content.png"
																				alt="Subscription based content">
																		</div>
																	</div>
																	 
																		<a href="https://www.dennislawgh.com/login"
																		class="btn btn-primary btn-lg"
																		style="font-family: 'open sans'; text-transform: capitalize; border-radius: 8px"> 
																		Login to Read Full Case </a>
																	 
																	
																</div>
															</div>
														</div>
													</div>
													<main id="main" class="content" style="min-height: 60rem" >LAWRENCE BRUCE KYEI<o:p></o:p>(PLAINTIFF)<o:p></o:p><span lang="EN-GB" style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:&quot;Book Antiqua&quot;;
mso-bidi-font-family:&quot;Book Antiqua&quot;;color:#00B0F0">vs.<o:p></o:p>FIRST ALLIED SAVINGS &amp; LOANS LTD<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;
padding:0cm 0cm 1.0pt 0cm">

SUIT
NO. RPC 54/2018&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; &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: 31ST
JANUARY, 2020<o:p></o:p>

</div>COUNSEL:<o:p></o:p>S.
ANAGLATE FOR A. A. ACKUAKU FOR DEFENDANT/JUDGMENT DEBTOR/APPLICANT<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0cm 0cm 1.0pt 0cm">

KWAMINA
MENSAH FOR PLAINTIFF/JUDGMENT CREDITOR/RESPONDENT<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;
padding:0cm 0cm 1.0pt 0cm">

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;
padding:0cm 0cm 1.0pt 0cm">

</div><o:p>&nbsp;</o:p>This
ruling is in respect of an application for an order of discharge and release of
attached assets of the Defendant/Judgment Debtor/Applicant and for suspension
and/or stay of further execution proceedings against the Defendant/Judgment
Debtor/Applicant. This application was made pursuant to section 128 of the
Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930).<o:p></o:p>Background<o:p></o:p>The
background to this application is that the Plaintiff/Judgment
Creditor/Respondent (hereinafter referred to as the “Respondent”) commenced an
action by Writ of Summons dated 13th July, 2018 against the
Defendant/Judgment Debtor/Applicant (hereinafter referred to as the
“Applicant”) for the following reliefs:<o:p></o:p>a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order for the recovery of cash, the sum of
FIVE HUNDRED THOUSAND GHANA CEDIS (GHC 500,000.00), being the amount of money
invested as a fixed deposit in the Defendant’s institution, the said investment
being made on 2nd June, 2018.<o:p></o:p>b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest on the FIVE HUNDRED THOUSAND GHANA
CEDIS (GHC500,000.00) as agree per the fixed deposit agreement entered into
between the Plaintiff and the Defendant till date of final payment.<o:p></o:p>c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An order for the recovery of cash, the sum of
FIVE HUNDRED THOUSAND GHANA CEDIS (GHC500,000.00), being the amount of money
invested as a fixed deposit in the Defendant’s institution, the said investment
being made on 11th April, 2018.<o:p></o:p>d.&nbsp;&nbsp;&nbsp;&nbsp;
Interest on the FIVE HUNDRED THOUSAND GHANA
CEDIS (GHC500,000.00) as agreed per the fixed deposit agreement entered into
between the Plaintiff and the Defendant till date of final payment.<o:p></o:p>e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
General damages for breach of contract.<o:p></o:p>