ABII NATIONAL SAVING AND LOANS COMPANY LIMITED VS SADDICK ADAMS BABA & ANOR

Background The Plaintiff on 1st June, 2021 caused to be issued a Writ of Summons out of the Registry of the Commercial Court, Accra against the named Defendants for the following endorsed on the Writ of Summons reliefs: (a) Recovery of the sum of Forty-Nine Thousand, Four Hundred and Forty-Nine Cedis and Sixty-Seven Pesewas (GHS49, 449. 67) being the outstanding Principal sum under the Restructured Facility as at 26th March 2021.

b) Recovery of the sum of Twenty-Three Thousand, Three Hundred and Nine Cedis and Fifty Pesewas (GHS23, 309. 50) being Interest on the aforementioned sum at the agreed contractual rate from date of default till date of final payment.

c) Recovery of the sum of Fifty-Seven Thousand, Six Hundred and Ninety-Two Cedis and Twenty-Six Pesewas (GHS57, 692. 26) being a penalty charge on the aforementioned sum of the agreed contractual rate from date of default till date of final payment.

d) Cost including Counsel’s fees The record will show that even though the Writ and Statement of Claim was served on the defendants by substituted service only the 1st Defendant entered appearance to the Writ through his counsel on 24th March, 2022. The 1st Defendant subsequently filed his statement of defence and counter-claim.

In the said process the 1st Defendant counter-claimed for an order for a reconciliation of accounts to determine the true debt position between the plaintiff and the 1st Defendant.

The record will show that the 2nd Defendant did not enter appearance to the action.

Settlement The record will further show that even though pre-trial settlement conference failed and the matter was set down for trial.

The parties the Plaintiff and the 1st Defendant entered into terms of settlement and filed same on 3rd June, 2024. An examination of the said term will show that same was executed on behalf of the Plaintiff by Mr. Samuel Kingsley Arthur, the General Manager and his witness Emmanuel Nii-Otu Lartey, the Acting Head, Credit of the Plaintiff entity.

The said terms of settlement was similarly executed by the 1st Defendant personally and his lawyer, Dennis Frimpong Agyebeng, Esq. Adoption of Terms On the 1st of July, 2024, when the matter was called up to be heard, the Plaintiff prayed that the said terms be adopted as the consent judgment of the court.

Counsel for the 1st Defendant on behalf of the 1st Defendant similarly pray that the said terms of reference be adopted by the court as its consent judgment.

Accordingly, having therefo