MILLENIUM INSURANCE COMPANY LTD vs. NDK FINANCIAL SERVICES LTD [2022]DLHC17099

Date	2022-11-28
Suit No.	SUIT NO: CM/BDC/0630/2021
Citation No.	[2022]DLHC17099

HIS LORDSHIP JUSTICE JUSTIN KOFI DORGU

RICHMOND NUMBO SAAKA

ANDREW APPAU OBENG

[2022]DLHC17099
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<a name="_Hlk153451015"></a><a name="_Hlk152146143"><span style="font-size:12.0pt;mso-bidi-font-size:11.0pt;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">MILLENIUM INSURANCE COMPANY LTD<o:p></o:p></a>

<span style="font-size:12.0pt;mso-bidi-font-size:
11.0pt;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">&nbsp;<span style="font-size:10.0pt;mso-bidi-font-size:
11.0pt;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;">(PLAINTIFFS)<o:p></o:p>

<span style="font-size:10.0pt;mso-bidi-font-size:11.0pt;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;">(DEFENDANT)<o:p></o:p>

<span style="font-size:10.0pt;mso-bidi-font-size:
11.0pt;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;">[HIGH COURT, ACCRA]<o:p></o:p>

<span style="font-size:10.0pt;mso-bidi-font-size:11.0pt;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;">&nbsp;

<a name="_heading=h.gjdgxs"></a><span style="font-size:10.0pt;mso-bidi-font-size:11.0pt;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;">SUIT NO: CM/BDC/0630/2021&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:
28TH NOVEMBER 2022<span style="font-size:12.0pt;mso-bidi-font-size:11.0pt;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;"><o:p></o:p>

</div>

<span style="font-size:12.0pt;mso-bidi-font-size:
11.0pt;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;">COUNSEL<o:p></o:p>

<span style="font-size:12.0pt;mso-bidi-font-size:
11.0pt;font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:&quot;Book Antiqua&quot;;
mso-bidi-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-weight:bold">RICHMOND NUMBO
SAAKA FOR THE PLAINTIFF/APPLICANT <o:p></o:p>

<span style="font-size:12.0pt;mso-bidi-font-size:
11.0pt;font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:&quot;Book Antiqua&quot;;
mso-bidi-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-weight:bold">ANDREW APPAU
OBENG FOR THE DEFENDANT/RESPONDENT<o:p></o:p>

</div>

HIS LORDSHIP JUSTICE JUSTIN KOFI DORGU<o:p></o:p>

<p class="MsoNormal" align="center" style="text-align:center;line-height:115%;
tab-stops:4.5pt;border:none;mso-border-top-alt:solid black 1.5pt;mso-border-bottom-alt:
solid black 1.5pt;padding:0cm;mso-padding-alt:1.0pt 0cm 0cm 0cm"><span style="font-size:12.0pt;mso-bidi-font-size:
11.0pt;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;">JUDGMENT<o:p></o:p>

</div>

On or about the 28th May, 2021, the Plaintiffs herein, a
limited liability company incorporated under the Laws of Ghana and engaged in
the business of insurance instituted this action per its Lawful Attorney,
Questions + Answers against the Defendants, also a limited liability company
engaged in the business of granting loans, undertaking investments and offering
business solutions to its clients for the following reliefs;-<o:p></o:p>

&nbsp;

(a)<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-variant-position: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;
Recovery
of the total sum of GH¢15, 025, 674.55 from Defendant being principal sum and interest on investment made by the
Plaintiff&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; with the Defendant Company
which said sums Defendant has refused and or neglected to pay to the
Plaintiff<o:p></o:p>

(b)<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-variant-position: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;
Interest
on the total sum of GH¢15, 025, 674.55 at the prevailing bank lending rate from the 28th May, 2021 till date of final
payment<o:p></o:p>

&nbsp;

At
the close of