ADA RURAL BANK PLC VS ELECTROCHEM GHANA LTD.

The High Court of Ghana, presided over by Justice Sheila Minta, entered a consent judgment adopting Terms of Settlement executed on April 17, 2024 and filed on May 27, 2024. The agreement resolves the civil claim without trial, committing the defendant to pay GHa2900,000 in satisfaction of the claims and GHa2100,000 as legal costs, totaling GHa21,000,000. Payment is structured through seven installments scheduled from April through October 2024, with specific amounts and due dates, reflecting the parties negotiated performance plan. The judgment also records that the written settlement embodies the parties entire understanding of the claim, limiting obligations to the documented terms. Finally, the Court stated that the usual default clause applies, clarifying enforcement consequences if the payment schedule is not obeyed. This consent judgment formalizes and enforces the parties negotiated resolution.