HUUDU SIITA vs NDK FINANCIAL SERVICES LIMITED

Plaintiff claims against the Defendant the following reliefs:

1. An order for the Defendant to pay the amount of Eighty Thousand Ghana (GH¢80,000.00).

2. Interest on the amount of Eighty Thousand Ghana (GH¢80,000.00) from 30th November 2019 to final date of payment.

3. Costs including Solicitor’s fees

4. Any other relief(s) or order(s) as this Honourable Court may deem fit.

PLAINTIFF’S CASE

Plaintiff’s case is that on 5th September 2017, the Defendant entered into an Investment Placement Agreement with Plaintiff under which he invested an amount of One Hundred and Twenty Thousand Ghana Cedis (GH¢120,000.00) with Defendant at an interest of 24.5% per annum.

On 5th September 2018, the said investment was renewed for another year to 5th September, 2019 at an interest of 24% per annum.

At the end of the second year of investment, Plaintiff put in a request to redeem his investment of One Hundred and Twenty Thousand Ghana Cedis (GH¢120,000.00).

Defendant presented Plaintiff with a payment plan of instalment payments of Thirty Thousand Ghana Cedis (GH¢30,000.00) every three weeks effective 29th November, 2019 together with interest of 15% on delayed payments until full payment of the principal sum of One Hundred and Twenty Thousand Ghana Cedis (GH¢120,000.00).

That Defendant after paying the amount of Thirty Thousand Ghana Cedis (GH¢30,000.00) to Plaintiff on 5th December, 2019 and another Ten Thousand Ghana Cedis (GH¢10,000.00) thereafter failed, refused and/or neglected to honour the outstanding payment schedules.

That till date Defendant has failed to honour its payment obligations of Eighty Thousand Ghana Cedis (GH¢80,000.00) to Plaintiff and will not do so unless compelled by the court to do so.

DEFENDANT’S CASE

Defendant aside admitting to making payment of Forty Thousand Ghana Cedis (GH¢40,000.00) to Plaintiff denied Plaintiff’s claims against it. That Plaintiff is not entitled to his reliefs.

ISSUES TO BE DETERMINED AT TRIAL

Upon failure of pre-trial settlement conference, the following issues were set down for trial:

1. Whether or not Plaintiff at the end of the 2nd year of investment indicated his intention to discontinue with the investment scheme.

2. Whether or not Defendant unilaterally gave a payment plan to Plaintiff for the refund of his investment.

3. Whether or not Defendant has since payment of a total amount of Forty Thousand Ghana Cedis (GH¢40,000.00) by 5th December 2019, made any other payment to Plaintiff.

4. Wh