BENY IMPEX LIMITED vs INVESTMENT PLUS LIMITED & ANOTHER

WHEREAS:

1. WRIT AND RELIEFS SOUGHT

1. That on the 23rd June, 2022 the Plaintiff issued a Writ of Summons and a Statement of Claim against the Defendants for the following reliefs:

a. An Order for the recovery of the sum of Four Million, Four Hundred and Forty Thousand Euros (€4,440,000.00) being the outstanding balance of assorted frozen meat items supplied to 1st Defendant under the managerial role and direction of the 1st Defendant.

b. Interest on the said sum at the prevailing lending rate from February, 2019 to date of final payment.

c. Cost of litigation including Solicitors fees.

d. Any other order (s) as the Honourable Court may deem it.

2. The Defendant entered appearance and subsequently filed a Defence denying Plaintiff’s claim but admitted owing a total of One Hundred Forty-Two, Four Eighty-Seven Euros, Fifty Cents (€142,487.50).

3. At the Pre-Trial Conference the Parties agreed to settle on the sum of Euros One Hundred Forty-Two, Four Eighty-Seven Euros, Fifty Cents (€142,487.50) admitted by the Defendant and have subsequently settle as follows:

2. TERMS OF SETTLEMENT

1. That the Defendant shall pay only the admitted sum of Euros One Hundred Forty

Two, Four Eighty-Seven Euros, Fifty Cents (€142,487.50) together with an

agreed interest of Ten Thousand Euros (€10,000.00) either in Euros or its Ghana

Cedis equivalent as follows:

2. That an initial payment of Forty Two Thousand, Four Hundred and Eighty-

Seven Euros, Fifty Cents (€42,487.50) shall be made on or before the execution of

This Agreement.

3. That the balance of One Hundred and Ten Thousand Euros (€110,000.00) shal1

be paid by the Defendant in Ten (10) monthly installment of Eleven Thousand

Euros (€11,000.00) per month commencing at the end of April and then at the end

of every month thereafter.

4. That all payments shall be made by the Defendant directly into the Bank Account

of the Lawyer for the Plaintiff, Mr. Joseph Ofori Mensah of Expert Legal Consult

Limited, Accra.

5. That Cost of litigation in the sum of Twenty Thousand Ghana Cedis

(GH¢20,000.00) shall be paid by the Defendant to the Lawyer for the Plaintiff, Mr.

Joseph Ofori Mensah of Expert Legal Consult Limited, Accra.

6. That in the event of default on the part of the Defendant without any reasonable

excuse, the Plaintiff shall be at liberty to go into execution for the recovery of the

balance due under these terms.

7. That the Parties have agreed that these Terms of Settlement shall