KINGSLEY KWADWO APPIAH v. FIRST ALLIED SAVINGS AND LOANS LIMITED
2019
HIGH COURT
GHANA
CORAM
- HIS LORDSHIP JUSTICE DR. RICHMOND OSEI-HWERE
Areas of Law
- Civil Procedure
- Banking and Finance Law
- Contract Law
2019
HIGH COURT
GHANA
CORAM
AI Generated Summary
His Lordship Justice Dr. Richmond Osei-Hwere considered an application for summary judgment under Order 14 rule 1 of the High Court Civil Procedure Rules, 2004 (CI 47). The Applicant had placed substantial fixed deposit investments with the Respondent and sought payment of GHC 938,000 (less GHC 60,000) with accrued interest as at 23 October 2018, and GHC 900,000 with interest at 31% from 23 March 2018. Exhibits KAA7 and KAA8 evidenced maturity on 23 October 2018 and 23 March 2019, with amounts due of GHC 938,000 and GHC 1,179,000. Although the Respondent denied indebtedness in its defence, it filed no affidavit in opposition and did not appear on the return date. Applying settled summary judgment principles and relying on authorities including Yartel Boat Building Co. v Annan and Asumin v DIC, the Court held the defence was a bare denial and deemed the documentary facts admitted. Summary judgment was entered for all reliefs, with costs of GHC 70,000.
JUDGMENT
Before me is an application for an order of the court to enter summary judgment against the Defendant on the ground that the statement of defence discloses no defence to the action. The application is premised on Order 14 rule 1 of the High Court Civil Procedure Rules, 2004 (CI 47).
On 29th October, 2018, the Plaintiff/Applicant (hereinafter referred to as the Applicant) filed a writ of summons against the Defendant/Respondent (hereinafter referred to as the Respondent) for:
a. An order for the payment of the sum of Nine Hundred and Thirty-Eight Thousand Ghana Cedis (GHC938,000.00) less Sixty Thousand Ghana Cedis (GHC60,000.00) being the principal sum placed by the Plaintiff with the Defendant as fixed deposit investment and the interest accrued thereon as at 23rd October, 2018 and ought to have been paid to him at the said date but which sum the Defendant has failed to pay despite repeated demand.
b. An order for the payment of interest on the sum of Eight Hundred and Seventy-Eight Thousand Ghana Cedis (GHC878,000.00) being the balance of the investment mentioned in paragraph (a) supra at the prevailing commercial bank lending rate from 23rd October, 2018 being the date of maturity of his investment to the date of final payment.
c. An order for the payment of Nine Hundred and Thousand Ghana Cedis (GHC 900, 000.00) being money the Plaintiff placed with the Defendant on 23rd March, 2018 as fixed deposit investment.
d. An order for the payment of interest on the said sum mentioned in paragraph (c) supra at the rate of Thirty-one (31%) being the interest rate the Defendant was to pay to the Plaintiff on his fixed deposit investment from 23rd March, 2018 to the date of final payment.
e. Costs including legal fees.
According to the applicant, the defence filed on behalf of the defendant does not reveal any defence to the claim and for that matter no useful purpose will be served by going into a full trial of the matter.
It is the case of the applicant that several weeks have elapsed since the maturity of his investments but the defendant has failed or refused to pay him after several demands. That the defendant has denied its indebtedness to him in its statement of defence just to prolong the case before this Court.
The motion was duly served on the respondent but it failed or refused to file an affidavit in response. On the return date of the application, both the respondent and its lawyer were absent in court without any reason. The court h