KOBBY BREW v. ACCESS BANK GHANA LIMITED & ORS
2016
HIGH COURT
GHANA
CORAM
- Samuel K. A. Asiedu
Areas of Law
- Contract Law
- Evidence Law
- Corporate Law
2016
HIGH COURT
GHANA
CORAM
AI Generated Summary
The case revolves around the breach of a financial agreement where the plaintiff provided GH₵700,000.00 to the second defendant for fulfilling a contract with the Ministry of Education. In return, the plaintiff was to receive 60% of the net profits. However, the funds and profits were fraudulently misappropriated by the second, third, and fourth defendants by suspending the opening of an escrow account without informing the plaintiff. The court found the second, third, and fourth defendants liable, awarding the plaintiff damages totaling GH₵194,000.00 plus 60% of the contract profits and interest. Claims against the first defendant bank, alleged to be an escrow agent or trustee, were dismissed.
JUDGMENT
Per an amended writ of summons and a statement of claim, the plaintiff claims against the defendants:
“a. A declaration that by accepting to open an escrow account, which is otherwise described as Account No. 2 or Account Number 1051770023498, 1st Defendant became an escrow agent of Plaintiff and 2nd Defendant.
b. A declaration that by accepting to open an escrow account, which is otherwise described as Account No. 2 or Account Number 1051770023498,1st Defendant became a legal trustee of Plaintiff and 2nd Defendant.
c. A declaration that 1st Defendant was negligent in its duties as an escrow agent and legal trustee of Plaintiff and 2nd Defendant, thereby occasioning unauthorized withdrawals from the escrow account, which is otherwise described as Account No. 2 or Account Number 1051770023498, thereby resulting in Plaintiff being overreached to the tune of One Hundred and Ninety Four Thousand Ghana Cedis (GH¢194,000.00).
d. A declaration that 2nd Defendant has breached the agreement referred to in (c) above.
e. A declaration that there exists an agreement between Plaintiff and 2nd Defendant that 2nd Defendant will pay Plaintiff 60% of the net profit realized from 2nd Defendant’s execution of the contract 2nd Defendant had with the Ministry of Education to supply school uniforms.
f. A declaration that 2nd Defendant has breached the terms of the said agreement.
g. Damages for 2nd Defendant’s breach of the said agreement.
h. A declaration that 3rd and 4th Defendants have defrauded Plaintiff of his earnings of 60% of the net profit realized by 2nd Defendant from 2nd Defendant’s execution of the contract as described in (a) above.
i. An order directed at the 2nd, 3rd and 4th Defendants to pay to Plaintiff 60% of the net profit realized by 2nd Defendant from 2nd Defendant’s execution of the contract.
j. An order for the recovery of the sum of One Hundred and Ninety Four Thousand Ghana Cedis (194,000.00) from Defendants jointly and severally.
k. Interest on the sum of One Hundred and Ninety Four Thousand Ghana Cedis (194,000.00) from September, 2010 till the date of final payment.
l. General Damages
m. Costs
n. Any other relief(s) as this Honourable Court deems just and equitable”
After the service on the defendants of the writ and its accompanying statement of claim, the first defendant entered appearance and subsequently filed a statement of defence. The 2nd, 3rd, and the 4th defendants were served with the writ of summons and the statem