KOCH KOFI APAARE BETHLEHEM/GOLF CITY, TEMA vs GOLD COAST FUND MANAGEMENT LTD 5 MOZAMIQUE LINK, ACCRA
2019
HIGH COURT
GHANA
CORAM
- HER LADYSHIP, JUSTICE JENNIFER A. DADZIE
Areas of Law
- Civil Procedure
- Contract Law
- Banking and Finance Law
2019
HIGH COURT
GHANA
CORAM
AI Generated Summary
The court granted summary judgment to the Plaintiff, finding that the Defendant's defenses were sham denials intended to delay proceedings. The Plaintiff was awarded the recovery of GH¢80,000 with interest and legal costs.
At the onset, I would note that earlier in the day, after having heard from counsel for applicant and after reviewing the record, I went ahead and granted the application and reserved the reasons to be delivered later, which I now proceed so to do.
This is an application by Plaintiff/Applicant herein referred to as Applicant praying that summary judgment be entered against the Defendant/Respondent, also referred to hereinafter as Respondent for the reliefs endorsed on the Writ of Summons issued out of the Registry of this court on January 11, 2019 and subsequently amended on February 18, 2019, to wit:
“i. An order for the recovery of the sum of Eighty Thousand Ghana cedis (GH¢80, 000. 00).
ii. Interest on the above-mentioned amount from August 2018 till date of final payment.
iii. Cost including legal fees assessed at 15% of the total amount outstanding”, on the grounds that the Respondent has no defence to the claim endorsed on the amended Writ of Summons and the defence filed by the Respondent is simply bare denials aimed at delaying the Applicant from seeking justice and is a sham.
I have read the application for Summary Judgment, the supporting affidavit and examined the various exhibits put in evidence by the Applicant and the Statement of Defence filed by the Respondent to this suit.
Detailed in the affidavit accompanying the motion paper are the facts, which, according to the Applicant gave rise to the instant application.
It is the claim of the Applicant that he entered into a structured finance agreement with the Respondent on August 13, 2008 for an amount of eighty thousand Ghana cedis (GH¢80, 000. 00)at the guaranteed interest rate of twenty-five per centum (25%) per annum which interest was to be paid quarterly.
The Applicant provided the Court with proof of this investment attached to his affidavit in support of the application as Exhibit “KA4”. According to the Applicant, when he made a demand on the Respondent to redeem his investment, the Respondent failed to refund same to him.
The Applicant asserts that the Respondent continued to ignore his demands including the written demand on the Respondent which he subsequently caused his lawyers to make on the Respondent on his behalf, marked herein as Exhibit “KA7”. According to the Applicant, the refusal of the Respondent to refund his money is what led to his issuing the writ of summons for the reliefs endorsed thereon as earlier stated.
The record of proceedings reflects that upon the