FIDELITY BANK GH LTD vs GIDEON AYIKU [2022]DLHC11447

Date	2022-05-11
Suit No.	SUIT NO. CM/MISC/0505/2020
Citation No.	[2022]DLHC11447

HIS LORDSHIP JUSTICE FRANCIS OBIRI.

KWAME AKYIANU FOR PLAINTIFF/APPLICANT

SAMUEL ADU BOAHEN FOR DEFENDANT/RESPONDENT

[2022]DLHC11447
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													<main id="main" class="content" style="min-height: 60rem" >IN
THE MATTER OF THE BORROWERS AND LENDERS ACT, 2008<o:p></o:p>(ACT 773)<o:p></o:p>AND<o:p></o:p>IN THE MATTER OF AN APPLICATION BY FIDELITY BANK GHANA LIMITED
FOR POSSESSION OF MORTGAGED PROPERTY AND REALISATION OF SECURITY<o:p></o:p><p class="MsoNormalCxSpMiddle" align="center" style="margin-top:0cm;margin-right:
-18.0pt;margin-bottom:0cm;margin-left:306.0pt;margin-bottom:.0001pt;mso-add-space:
auto;text-align:center;text-indent:18.0pt;line-height:150%">&nbsp;FIDELITY BANK GH LTD<o:p></o:p>(PLAINITIFF/APPLICANT)<o:p></o:p>vs<o:p></o:p>GIDEON AYIKU<o:p></o:p>(DEFENDANT/RESPONDENT)<o:p></o:p>[HIGH COURT, ACCRA]<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0cm 0cm 1pt; margin-left: 0cm; margin-right: -18pt;">

</div>COUNSEL&nbsp;&nbsp;&nbsp; <o:p></o:p>KWAME AKYIANU FOR
PLAINTIFF/APPLICANT<o:p></o:p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: windowtext; padding: 0cm 0cm 1pt;">

<p class="MsoNormal" style="margin-top:0cm;margin-right:0cm;margin-bottom:0cm;
margin-left:7.1pt;margin-bottom:.0001pt;text-align:justify;text-indent:-7.1pt;
line-height:150%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">SAMUEL ADU BOAHEN FOR DEFENDANT/RESPONDENT<o:p></o:p>

</div>CORAM:<o:p></o:p>HIS LORDSHIP JUSTICE FRANCIS OBIRI.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p><div style="border-top-width: 1.5pt; border-top-color: windowtext; border-left: none; border-bottom-width: 1.5pt; border-bottom-color: windowtext; border-right: none; padding: 1pt 0cm;">

<p class="MsoNormal" align="center" style="margin-top:0cm;margin-right:0cm;
margin-bottom:0cm;margin-left:7.1pt;margin-bottom:.0001pt;text-align:center;
text-indent:-7.1pt;line-height:150%;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>&nbsp;On 19th
February 2020, the Applicant filed a motion on notice before this Court.&nbsp; The motion is seeking an order for possession
and realisation of the mortgaged property, situate at Plot No. 155, Agbogba,
North Legon, Accra by judicial sale upon the grounds contained in the
accompanying affidavit. <o:p></o:p>The motion is
supported by affidavit and exhibits.&nbsp; I
wish to quote the relevant paragraphs of the affidavit in support in this
ruling.<o:p></o:p>3. That in May, 2013, the Applicant granted the
Respondent a Home&nbsp;&nbsp; Completion Mortgage
Facility in the sum of Four Hundred Thousand United States Dollars
(US$400,000.00) for a period of ten (10) years, at an interest rate of 13.66
percent per annum, and an agreed penal rate of five (5) percent per annum, per
facility letter dated 6th May, 2013.&nbsp;
A copy of the said facility letter is attached hereto and marked as exhibit
UKE1<o:p></o:p>4.&nbsp;&nbsp;&nbsp;&nbsp; That
the said Mortgage Facility was to enable the Respondent complete his three (3),
two (2) storey, five (5) bedroom detached buildings situate on Plot No. 155,
Agbogba, North Legon, Accra.<o:p></o:p>