FELIBAT COLDSTORE LIMITED vs. STANBIC BANK GHANA LIMITED [2022]DLSC11688

Date	2022-07-06
Suit No.	CIVIL APPEAL NO. J4/05/2022
Citation No.	[2022]DLSC11688

DOTSE JSC (PRESIDING)

LOVELACE-JOHNSON (MS.) JSC

AMADU JSC

PROF. MENSA-BONSU (MRS.) JSC

KULENDI JSC

SEAN POKU ESQ. FOR THE PLAINTIFF/RESPONDENT/APPELLANT.

ELIKEM ADISENU-DOE ESQ. FOR THE DEFENDANT/APPELLANT/ RESPONDENT.

[2022]DLSC11688
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													<main id="main" class="content" style="min-height: 60rem" >FELIBAT COLDSTORE LIMITED<o:p></o:p>(PLAINTIFF/RESPONDENT/APPELLANT)<o:p></o:p>vs.<o:p></o:p>STANBIC BANK GHANA LIMITED<o:p></o:p>(DEFENDANT/APPELLANT/RESPONDENT)<o:p></o:p>[SUPREME 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;">

<p class="MsoNormalCxSpMiddle" align="center" style="margin-bottom:0cm;margin-bottom:
.0001pt;mso-add-space:auto;text-align:center;line-height:115%;border:none;
mso-border-bottom-alt:solid windowtext 1.5pt;padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">CIVIL APPEAL NO. J4/05/2022&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: 6TH JULY, 2022<o:p></o:p>

</div>COUNSEL <o:p></o:p>SEAN POKU ESQ. FOR THE PLAINTIFF/RESPONDENT/APPELLANT.<o:p></o:p>ELIKEM ADISENU-DOE ESQ. FOR THE DEFENDANT/APPELLANT/<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="MsoNormalCxSpMiddle" style="margin-bottom:0cm;margin-bottom:.0001pt;
mso-add-space:auto;text-align:justify;line-height:115%;border:none;mso-border-bottom-alt:
solid windowtext 1.5pt;padding:0cm;mso-padding-alt:0cm 0cm 1.0pt 0cm">RESPONDENT.<o:p></o:p>

</div>CORAM&nbsp;&nbsp;&nbsp; <o:p></o:p>DOTSE JSC
(PRESIDING), LOVELACE-JOHNSON (MS.) JSC, AMADU JSC, PROF. MENSA-BONSU (MRS.)
JSC, KULENDI JSC<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-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>&nbsp;DOTSE JSC:-<o:p></o:p>PREFACE<o:p></o:p>This court, on the 6th
day of July 2022, by a unanimous decision dismissed the appeal filed by the
Plaintiffs against the Court of Appeal judgment dated 29th May 2022
save the ground of appeal against costs which we sustained.<o:p></o:p>We hereby proceed to
give reasons for our said decision.<o:p></o:p>FACTS<o:p></o:p>The facts giving rise to this present appeal are
that the Plaintiff/Respondent/Appellant (hereinafter referred to as Plaintiff previously
a customer of Defendant/Appellant/Respondent, (hereinafter referred to as Defendant)
Bank obtained a loan facility from the Defendant. The Plaintiff has averred in
its statement of claim that it was unable to fulfill its repayment obligations
to the Defendant Bank due to some challenges.<o:p></o:p>By a letter dated 30th November 2010, the Plaintiff
admitted its indebtedness of GH¢481,922.78 to the Defendant and proposed a
re-scheduling of the loan facility. The Plaintiff’s proposal was as follows:<o:p></o:p>“We wish to apply for a re-scheduling of the
facilities as follows to enable us settle our indebtedness to the bank:<o:p></o:p>(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
That all the
3 facilities be consolidated and treated as a term loan for a 12 months
duration. <o:p></o:p>(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
That the total
outstanding balance as at 21st May 2010 of GH¢ 481,022.78 (interest
inclusive) be maintained at GH¢ 450,000.00 (waving off GH¢ 31,922.78).<o:p></o:p>(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
That the
re-scheduled term of GH¢ 450,000.00 shall attract no interest thereon.<o:p></o:p>