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TERMS OF SETTLEMENT
After a successful mediation, terms of settlement are as follows:
1. The 2nd, 3rd, 4th and 5th Plaintiffs were not present throughout the ADR process.
2. The Defendant has agreed to pay an amount GH¢180, 000. 00 as compensation to Plaintiffs for a land acquired at Lartebiokorshie – Soko, a Suburb of Accra.
3. The Defendant has agreed to pay the money in installments effective 31st October, 2023 to 31st December, 2024. 4. The payments schedule are as follows: 1st payment schedule – 31/10/2023 – GH¢50, 000. 00 2nd payment schedule – 29/02/2024 – GH¢20, 000. 00 3rs payment schedule – 31/03/2024 – GH¢30, 000. 00 4th payment schedule – 31/08/2024 – GH¢30, 000. 00 5th payment schedule – 31/10/2024 – GH¢30, 000. 00 6th payment schedule – 31/12/2024 – GH¢20, 000. 00 5. The money will be paid into Plaintiff’s Bank Account Number: Christian Shanco Bruce Account No: 0052010016014 Fanofa Branch.
Branch Code: 90105 Bank: Societe General PLC 6. Default of payment will attract current Bank interest. BY COURT: CONSENT JUDGMENT 1. There is on record, terms of settlement document placed before the Court, with a covering letter duly signed.
The content showed that mediation has been successful.
The Defendant has agreed to compensate Plaintiffs in the sum of GH¢180, 000. 00 as full settlement of the dispute before this Court.
It has also been agreed on that the payment shall be by instalments with the relevant dates stated in the document.
The terms of settlement document has been duly executed by the parties.
2. Accordingly, this suit is struck out as settled.
a) The defence has also agreed to pay cost of GH¢10, 000. 00 to the Plaintiffs as part of the compromise.
b) The Plaintiffs are directed to execute an indenture of a lease, transferring interest in the land, the subject matter of the dispute to the Defendant/Church, within thirty (30) days.
(SGD. )H/L NICHOLAS M. C. ABODAKPI JUSTICE OF THE HIGH COURT.