FRANCIS YAMOA KYEI vs SKYLINE GUEST HOUSE LTD & ANOTHER

Plaintiff/Judgment Creditor/Applicant (hereafter referred to as Plaintiff/Applicant herein had issued a Writ against the Defendants/Judgment Debtors/Respondents hereafter referred to as Defendants/Respondents) for claims endorsed on the Writ of SUMMONS. At the pre-trial stage, the Plaintiff/Applicant and the Defendants/Respondents entered into Terms of Settlement which were subsequently adopted as Consent Judgment on 30th October, 2019 in favour of the Plaintiff/Applicant against the Defendants/Respondents as follows:

1. Defendants to pay the Plaintiff an amount of Six Hundred and Thirty-Seven Thousand, Seven Hundred Ghana Cedis(GHC637,700.00) being 70 percent (70%) of the commercial value of the land and all that interest the Plaintiff has in his land described as All that parcel of land measuring 0.180 hectors’ (0.466 of an acres) with Land Registry Certificate No.: GA4022, situate at Okponglo, Madina as per the Valuation Report dated 17th December, 2018

2. Defendants to pay to the Plaintiff an amount of Sixty-Four Thousand, Five Hundred and Eleven Ghana Cedis, Forty-Five Pesewas (GHC 64,511.45) representing Plaintiff’s 5% share in the 1st Defendant company, per the Valuation Report dated 7th June, 2019.

3. Defendants to pay to the Plaintiff the total sums in (1) and (2) above totaling Six hundred and Eighty-Two Thousand Eight Hundred and Fifty-Eight Cedis Two Pesewas (GHC682,858.02)

Entry of Judgment was filed by the Plaintiff/Applicant on 22/11/19 and served on the Defendants/Respondents. The Plaintiff/Applicant then caused Execution processes to be served on the Defendants/Respondents and went into Execution and attached and valued properties belonging to the Defendants/Applicants.

An application for an order to stay execution of the Judgment of the Court dated 29th October, 2019 and payment of Judgment Debt by installment filed on behalf of the Defendants was dismissed by this Court on 22nd December, 2020.

On 18th January, 2021 the Court granted an order for the attached property of the Defendants/Judgment Debtors; property No.: 3, Adenta Housing Down, Accra to be sold at a Reserved Price of Eight Hundred Thousand Cedis (GHC800,000.00) and same was sold at an auction and proceeds paid into Court.

Since the Defendants/Judgment Debtors had paid an initial amount of Two Hundred Thousand Cedis out of the Judgment Debt of Six and Eighty Two Thousand, Eight Hundred And Fifty Eight Cedis, Two Peswas (GHC 682, 855.02), there remained an outstanding