JOHN WELLIS WELBECK VRS TIGER FORCE MICROFINANCE LTD

JENNIFER ABENA DADZIE, JA

1. This action was commenced when the Plaintiff/Respondent (hereinafter referred to as “the Plaintiff”) filed a suit at the High Court, Accra, on 15th March 2019 against the Defendant/Appellant (hereinafter referred to as “the Defendant”) and one other, Emmanuel Kumi. Subsequently, the Plaintiff’s Writ of Summons was amended on 5th November 2020 to non-suit the said Emmanuel Kumi, thereby proceeding solely against the Defendant and seeking the following reliefs:

“a) An order directed at the Defendant for the removal of the embargo placed on Plaintiff's property situate at Plot No. 18, 28 th Close, Housing Estate-Dansoman.

b) An order for Reconciliation of Accounts on the 1 st loan of GHS 40,000.00 taken by the Emmanuel Kumi with the Defendant.

c) An order directed at the Defendant to release the collateral document the Emmanuel Kumi used to secure the loan facility with the 2 nd Defendant.

d) An Order of ejectment and Recovery of possession of rooms occupied by Defendant its agents, assigns, workmen, successors etc in Plot No. 18, 28 th Close, Housing Estate-Dansoman for plaintiff's own use.

e) An order directed at the Defendant to pay a compensatory sum of GHS 50,000 to the plaintiff for the unlawful embargo placed on plaintiff's property.

f) General damages.

g) Costs on a full indemnity basis including legal costs.”

1. The Plaintiff, then a seventy-eight-year-old businessman, guaranteed a loan of Forty Thousand Ghana Cedis (GHS 40,000.00) for one Emmanuel Kumi in 2012 (hereinafter referred to as “the First Loan”). This facility was obtained from the Defendant Company, with the Plaintiff’s property, Plot No. 18, 28th Close, Housing Estate-Dansoman (hereinafter referred to as “the Property”), pledged as collateral under a Mortgage Agreement.
2. While the Plaintiff was incarcerated in 2013, Emmanuel Kumi again approached the Defendant and, without the Plaintiff’s knowledge or consent, secured an additional loan of Fifty Thousand Ghana Cedis (GHS 50,000.00) from the Defendant using the same Property as collateral (hereinafter referred to as “the Second Loan”). The Plaintiff only became aware of this Second Loan when, in May 2015, the Defendant notified him that Emmanuel Kumi had defaulted on both facilities.
3. The Plaintiff contends that he guaranteed only the First Loan and that the Defendant unlawfully locked up and rented out his Property without