FIVE STAR MINING COMPANY LIMITED vs STANDARD CHARTERED BANK GHANA LIMITED

Plaintiff Company’s case is that it is a Gold Mining Company with mining concessions in the Eastern and Ashanti regions of Ghana.

That its foreign Partners wired an amount of One Million Euros (€1,000,000.00) into its Bank Account (Account Number 8700231292600) which it maintained with Defendant Bank at the Abeka-Lapaz Branch.

That per the SWIFT message, the funds were wired and received by Defendant Bank into Plaintiff Company’s account on 18th September 2012, an amount of One Million Euros (€1,000,000.00) was transferred into the said account from London for the benefit of Plaintiff Company.

Subsequently, the Economic and Organised Crime Office (EOCO) placed Plaintiff Company under investigation and consequently froze the said account; which was subsequently de-frozen by a Court Order on 8th December, 2015.

After the investigations was concluded by EOCO, the latter on 29th December, 2016 wrote a letter to Defendant Bank to the effect that the restriction to the said Account had been lifted.

Although the said letter and Court order were brought to the attention of Defendant Bank, it has refused, neglected or failed to pay the money to Plaintiff Company.

It is the case of Plaintiff Company that it neither owes Defendant Bank nor has it ordered the latter to pay the said amount of money or part thereof to any entity or body on its behalf.

Plaintiff Company therefore claims from Defendant Bank the following reliefs:

1. An order directed at Defendant to forthwith pay to Plaintiff the principal amount of One Million Euros (€1,000,000.00) with interest thereon at the prevailing Commercial Bank lending rate with effect from 29th December, 2016 up to date of payment.

2. Damages for breach of trust.

3. Costs.

4. Perpetual injunction restraining the Defendant Company, its Assigns, Agents and Privies from further delaying in execution of the order to pay the Plaintiff Company.

DEFENDANT’S CASE

Defendant Bank’s case is that at the time the said account was frozen, the balance in Plaintiff Company’s account as at 2nd October, 2012 was Two Thousand, Six Hundred and Forty-Two United States Dollars, Twenty-Six Cents ($2,642.26).

Regarding the operation of Plaintiff Company’s account, Defendant Bank states that after the said Account was de-frozen and Plaintiff Company attempted to operate the Account, the latter was informed that the said Account had become dormant as a result of over Two (2) years of inactivity. That it would require an Account informa