UNIVERSAL MERCHANT BANK LIMITED vs. UP TRAVEL SERVICES LIMITED AND NEW PATRIOTIC PARTY [2023]DLHC16001

UNIVERSAL MERCHANT BANK LIMITED vs. UP TRAVEL SERVICES LIMITED AND NEW PATRIOTIC... [2023]DLHC16001

Date	2023-05-30
Suit No.	SUIT NO. CM/MISC/0538/2022
Citation No.	[2023]DLHC16001

HIS LORDSHIP JUSTICE FRANCIS OBIRI

GARY NIMAKO MARFO FOR THE 2ND RESPONDENT/APPLICANT

KWAME BOAFO AKUFFO FOR THE APPLICANT/RESPONDENT

NANA YAA OWUSU-ADUOME FOR THE 1ST RESPONDENT/1ST RESPONDENT

[2023]DLHC16001
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													<main id="main" class="content" style="min-height: 60rem" >IN THE MATTER OF THE BORROWERS AND
LENDERS ACT, 2020 (ACT 1052)<o:p></o:p>AND<o:p></o:p>IN THE MATTER OF AN APPLICATION BY
UNIVERSAL MERCHANT BANK FOR THE APPOINTMENT OF A RECEIVER TO REALISE THE
COLLATERAL SECURITY UNDER THE BORROWERS AND LENDERS ACT, 2020, (ACT 1052)<o:p></o:p>AND<o:p></o:p>&nbsp;UNIVERSAL MERCHANT BANK LIMITED &nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p>(APPLICANT/RESPONDENT)<o:p></o:p>vs.<o:p></o:p>UP TRAVEL SERVICES LIMITED AND NEW
PATRIOTIC PARTY<o:p></o:p>(RESPONDENT/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: 0in 0in 1pt;">

</div>COUNSEL:<o:p></o:p>GARY NIMAKO
MARFO FOR THE 2ND RESPONDENT/APPLICANT <o:p></o:p>&nbsp;KWAME BOAFO AKUFFO FOR THE
APPLICANT/RESPONDENT&nbsp; <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: 0in 0in 1pt;">

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;text-align:
justify;line-height:150%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">NANA YAA OWUSU-ADUOME FOR THE 1ST
RESPONDENT/1ST RESPONDENT&nbsp;&nbsp; <o:p></o:p>

</div>CORAM:<o:p></o:p>HIS LORDSHIP
JUSTICE FRANCIS OBIRI<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 0in;">

<p class="MsoNormal" align="center" style="margin-top:0in;margin-right:0in;
margin-bottom:0in;margin-left:1.5in;margin-bottom:.0001pt;text-align:center;
text-indent:-1.5in;line-height:150%;border:none;mso-border-top-alt:solid windowtext 1.5pt;
mso-border-bottom-alt:solid windowtext 1.5pt;padding:0in;mso-padding-alt:1.0pt 0in 1.0pt 0in">RULING<o:p></o:p>

</div>&nbsp;On 2nd March 2023, the 2nd
Respondent/Applicant (hereinafter called the Applicant) filed a motion on
notice. The motion is praying the court to set aside its Order dated, 13th
February, 2023 which joined the New Patriotic Party, as 2nd
Respondent to this suit as upon the grounds contained in the affidavit in
support.<o:p></o:p>I wish to reproduce the relevant paragraphs of the
affidavit in support in this delivery. <o:p></o:p>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; That the 2nd Respondent was
served with an amended Application for appointment of a Receiver under the
Borrowers and Lenders Act, 2020 (Act 1052) by the Applicant/Respondent herein
for the following reliefs:<o:p></o:p>a. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To appoint a Receiver to control, possess
and realise the security interest of the Applicant in the Security assets: the
100 buses to enable the recovery of the sum of Thirty-Two Million, Four Hundred
and Ninety-Six Thousand, Six Hundred and Three Ghana Cedis, Twenty-One Pesewas
(GH¢32,496,603.21) owed by the 1st Respondent.<o:p></o:p>