CHARLOTTE NYAMEKYE v. NOBLE DREAM MICRO FINANCE LIMITED & FRANK FOSU GYAWU
2016
HIGH COURT
GHANA
CORAM
- DR. RICHMOND OSEI-HWERE
Areas of Law
- Property and Real Estate Law
- Civil Procedure
- Commercial Law
2016
HIGH COURT
GHANA
CORAM
AI Generated Summary
A judgment was obtained by the Plaintiff against Noble Dream Micro Finance Service, leading to the attachment and auction of the Defendant's properties. Due to irregularities in the auction, a motion was filed to set aside the sale and release funds. The court found that the sale did not comply with procedural rules, and therefore, denied the motion to set aside the auction sale or release the funds. The Plaintiff's claims were held valid but limited to the properly executed properties, while the applicant was advised to seek remedy against the auctioneer separately.
RULING
1. This is a double edge application for an order to set aside “the auction sale conducted by the auctioneer (Isaac Osei Ampadu) on 25-01-2016” and for an order releasing money paid into court by the said auctioneer.
2. Before going into the merits of the instant application, I shall go into the factual and the procedural history of the case.
The background to the application
The Plaintiff/Judgment-Creditor commenced an action against the Defendant/Judgment-Debtor for the following reliefs:
a. An order for the payment to the Plaintiff of the sum of NINE HUNDRED AND TWENTY-
FOUR THOUSAND, THREE HUNDRED AND TWENTY GHANA CEDIS (GHC 924,320.00) being total investment amount and agreed interest of 6% per tenure commencing 17th October, 2013 to be paid by the Defendant to the Plaintiff on investment amount lodged with the Defendant by the Plaintiff and agreed to be finally paid to the Plaintiff by the Defendant on or before the 17th October, 2013 which payment the Defendant has failed and/or refused to honour notwithstanding repeated demands.
b. Further payment of interest at the prevailing bank/ commercial rate on the aforementioned amount from 17th December 2013 till date of final payment.
c. Such further order(s) as the Honourable Court may deem fit.
On 2nd September, 2014 this Honourable Court gave judgment in favour of the Plaintiff/ Judgment-Creditor.
The Defendant/ Judgment-Debtor failed to satisfy the judgment debt and the Plaintiff/Judgment-Creditor set execution processes in motion to secure the judgment debt and consequently attached the following properties in a writ of fieri facias i.e.
a. Plot No. 9A, Santasi Anyinam, Kumasi
b. Plot No. 56 (Opposite Bible College), Afrancho, Kumasi
c. Plot Nos.37, 38 &39 Block J Nkontwima Busumuru, Kumasi
d. Plot Nos. 71, 72, 73, 74, 79 & 80 situate at Nkontwima Busumuru, Kumasi
After the attachment of the said properties, the Registrar of this Honourable Court appointed a valuer by name JEFFERY OWUSU BANAHENE who had the properties valued and submitted his report to the Registrar. Upon obtaining a copy of the said Valuation Report, the Plaintiff/Judgment-Creditor, caused her Lawyers to file an application before this Honourable Court for a reserve price to be fixed so that the attached properties could be sold by auction under the Actions Sales Law 1989 (PNDCL 230).
On the 12 June, 2015, this Honourable Court determined the application and fixed the Reserved Price as follows:
a. Plot No.