STANDARD CHARTERED BANK vs. AUTOMOTIVE SPRINGS GH. LTD & 2 ORS [2024]DLHC17388

Date	2024-01-30
Suit No.	SUIT NO. CM/BFS/0882/2020
Citation No.	[2024]DLHC17388

HIS LORDSHIP JUSTICE FRANCIS OBIRI

DAWN ZANEY

<p class="mb-5" id="contentDlCitation"  hidden>[2024]DLHC17388</p>
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													<main id="main" class="content" style="min-height: 60rem" ><span style="font-size: 18px !important;"><p class="MsoNormal" align="center" style="margin-top:0in;margin-right:.5pt;
margin-bottom:0in;margin-left:4.5pt;margin-bottom:.0001pt;text-align:center;
line-height:normal;mso-pagination:none;text-autospace:none"><b><span style="font-size:12.0pt;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;mso-ansi-language:EN-US">STANDARD CHARTERED BANK<o:p></o:p></span></b></p><p class="MsoNormal" align="center" style="margin-top:0in;margin-right:.5pt;
margin-bottom:0in;margin-left:4.5pt;margin-bottom:.0001pt;text-align:center;
line-height:normal;mso-pagination:none;text-autospace:none"><i><span style="font-size:10.0pt;mso-bidi-font-size:
12.0pt;font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:&quot;Book Antiqua&quot;;
mso-bidi-font-family:&quot;Book Antiqua&quot;;mso-ansi-language:EN-US">(PLAINTIFF/RESPONDENT)<o:p></o:p></span></i></p><p class="MsoNormal" align="center" style="margin-top:0in;margin-right:.5pt;
margin-bottom:0in;margin-left:4.5pt;margin-bottom:.0001pt;text-align:center;
line-height:normal;mso-pagination:none;text-autospace:none"><b><span style="font-size:12.0pt;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;mso-ansi-language:EN-US">vs.<o:p></o:p></span></b></p><p class="MsoNormal" align="center" style="margin-top:0in;margin-right:.5pt;
margin-bottom:0in;margin-left:4.5pt;margin-bottom:.0001pt;text-align:center;
line-height:normal;mso-pagination:none;text-autospace:none"><b><span style="font-size:12.0pt;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;mso-ansi-language:EN-US">AUTOMOTIVE SPRINGS GH.
LTD &amp; 2 ORS<o:p></o:p></span></b></p><p class="MsoNormal" align="center" style="margin-top:0in;margin-right:.5pt;
margin-bottom:0in;margin-left:4.5pt;margin-bottom:.0001pt;text-align:center;
line-height:normal;mso-pagination:none;text-autospace:none"><i><span style="font-size:10.0pt;mso-bidi-font-size:
12.0pt;font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:&quot;Book Antiqua&quot;;
mso-bidi-font-family:&quot;Book Antiqua&quot;;mso-ansi-language:EN-US">(DEFENDANTS/APPLICANTS)<o:p></o:p></span></i></p><p class="MsoNormal" align="center" style="margin-top:0in;margin-right:.5pt;
margin-bottom:0in;margin-left:4.5pt;margin-bottom:.0001pt;text-align:center;
line-height:normal;mso-pagination:none;text-autospace:none"><span style="font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;
mso-ansi-language:EN-US">[HIGH COURT, ACCRA]<o:p></o:p></span></p><p class="MsoNormal" style="margin-top:0in;margin-right:.5pt;margin-bottom:0in;
margin-left:4.5pt;margin-bottom:.0001pt;text-align:justify;line-height:normal;
mso-pagination:none;tab-stops:168.75pt 278.15pt;text-autospace:none"><span style="font-size:10.0pt;mso-bidi-font-size:12.0pt;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;
mso-ansi-language:EN-US">&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p></span></p><div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: black; padding: 0in 0in 1pt; margin-left: 4.5pt; margin-right: 0.5pt;">

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;text-align:
justify;line-height:normal;mso-pagination:none;text-autospace:none;border:none;
mso-border-bottom-alt:solid black 1.5pt;padding:0in;mso-padding-alt:0in 0in 1.0pt 0in"><a name="_heading=h.gjdgxs"></a><span style="font-size:10.0pt;mso-bidi-font-size:
12.0pt;font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:&quot;Book Antiqua&quot;;
mso-bidi-font-family:&quot;Book Antiqua&quot;;mso-ansi-language:EN-US">SUIT NO.
CM/BFS/0882/2020&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: 30<sup>TH</sup> &nbsp;JANUARY, 2024<o:p></o:p></span></p>

</div><p class="MsoNormal" style="margin-top:0in;margin-right:.5pt;margin-bottom:0in;
margin-left:4.5pt;margin-bottom:.0001pt;text-align:justify;line-height:normal;
mso-pagination:none;text-autospace:none"><b><span style="font-size:12.0pt;font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:
&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;mso-ansi-language:EN-US">CORAM<o:p></o:p></span></b></p><p class="MsoNormal" style="margin-top:0in;margin-right:.5pt;margin-bottom:0in;
margin-left:4.5pt;margin-bottom:.0001pt;text-align:justify;line-height:normal;
mso-pagination:none;text-autospace:none"><span style="font-size:12.0pt;
font-family:&quot;Book Antiqua&quot;,serif;mso-fareast-font-family:&quot;Book Antiqua&quot;;
mso-bidi-font-family:&quot;Book Antiqua&quot;;mso-ansi-language:EN-US">HIS LORDSHIP
JUSTICE FRANCIS OBIRI<o:p></o:p></span></p><div style="border-top-width: 1.5pt; border-top-color: black; border-left: none; border-bottom-width: 1.5pt; border-bottom-color: black; border-right: none; padding: 1pt 0in; margin-left: 4.5pt; margin-right: 0.5pt;">

<p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt;
text-align:center;line-height:normal;mso-pagination:none;text-autospace:none;
border:none;mso-border-top-alt:solid black 1.5pt;mso-border-bottom-alt:solid black 1.5pt;
padding:0in;mso-padding-alt:1.0pt 0in 1.0pt 0in"><b><span style="font-size:12.0pt;font-family:&quot;Book Antiqua&quot;,serif;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;
mso-ansi-language:EN-US">RULING<o:p></o:p></span></b></p>

</div><p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;text-align:
justify;line-height:115%"><span lang="EN-GB" style="font-size:12.0pt;line-height:
115%;font-family:&quot;Book Antiqua&quot;,serif;mso-bidi-font-family:Tahoma">On 1<sup>st</sup>
November<b> </b>2023, the
Defendants/Applicants (hereinafter called the Applicants) filed a motion before
this court to pay the outstanding balance of an amount of USD1.85 million by
instalments, upon the grounds set out in the accompanying affidavit. The motion
is supported by affidavit and exhibits. The relevant paragraphs are reproduced
below.<o:p></o:p></span></p><p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:.5in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5in;
line-height:115%"><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;
font-family:&quot;Book Antiqua&quot;,serif;mso-bidi-font-family:Tahoma">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; That Plaintiff issued a writ of summons
and statement of claim in respect of the above titled suit against the
Defendants herein for the reliefs endorsed on the writ of summons.<o:p></o:p></span></p><p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:.5in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5in;
line-height:115%"><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;
font-family:&quot;Book Antiqua&quot;,serif;mso-bidi-font-family:Tahoma">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; That the parties subsequently settled
the matter amicably amongst themselves and duly filed terms of settlement.<o:p></o:p></span></p><p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:.5in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5in;
line-height:115%"><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;
font-family:&quot;Book Antiqua&quot;,serif;mso-bidi-font-family:Tahoma">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; That the terms of settlement so filed
was adopted as consent judgment of the Court.<o:p></o:p></span></p><p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:.5in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5in;
line-height:115%"><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;
font-family:&quot;Book Antiqua&quot;,serif;mso-bidi-font-family:Tahoma">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; That per the said consent judgment, the
Applicants were to pay an amount of USD6.5 million as follows; -<o:p></o:p></span></p><p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:.5in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5in;
line-height:115%"><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;
font-family:&quot;Book Antiqua&quot;,serif;mso-bidi-font-family:Tahoma">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD3
million on or before the 31<sup>st</sup> December, 2021<o:p></o:p></span></p><p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:.5in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5in;
line-height:115%"><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;
font-family:&quot;Book Antiqua&quot;,serif;mso-bidi-font-family:Tahoma">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The
balance of USD 3.5 million to be paid by 31<sup>st</sup> December, 2022.<o:p></o:p></span></p><p class="MsoNormal" style="margin-top:0in;margin-right:0in;margin-bottom:0in;
margin-left:.5in;margin-bottom:.0001pt;text-align:justify;text-indent:-.5in;
line-height:115%"><span lang="EN-GB" style="font-size:12.0pt;line-height:115%;
font-family:&quot;Book Antiqua&</main>