LIFEGROUP OF COMPANIES LTD vs NOWAK DEVELOPMENTS LTD & ANOTHER

On 27th February 2023, this Honourable Court granted an Order of Interlocutory Injunction restraining the 1st Defendant/Applicant (hereafter referred to as “the Applicant”) as well as its assigns, heirs, successors or any person or persons claiming under or in trust for the Applicant from going onto and dealing with the parcel of land known as Plot 1A measuring an approximate area of 0.97 of an acre situate at Airport Commercial Centre, Accra in the Greater Accra Region of the Republic of Ghana, pending the final determination of the instant suit.

Being dissatisfied with the said Order of Interlocutory Injunction, the Applicant filed a Notice of Appeal at the Court of Appeal on 3rd March 2023 to set aside the Order and subsequently filed the instant MOTION ON NOTICE FOR STAY OF EXECUTION PENDING APPEAL on 10th March 2023. The application was moved in terms of the affidavit and supplementary affidavit in support deposed to and filed on 10th March 2023 and 28th April 2023 respectively by the learned Counsel for the Applicant, Kwami Augustus Williams of H/No. F.174/6, Third Labone Link, North Labone, Accra.

The Applicant contends that, the Appeal to set aside the Order of Interlocutory Injunction has a very good chance of success and asseverates in paragraphs 17 to 19 and paragraphs 30 to 32 of the affidavit in support as below –

Paragraphs 17 to 19:

“17. That, if the said Interlocutory Injunction granted by this Honourable Court on 27th February 2023 is not set aside, it would cause irreparable financial ruin to the 1st Defendant, for the following reasons:

a. The 1st Defendant would immediately be in default of the Cal Bank loan facility pursuant to which it mortgaged the Un-numbered Plot to obtain funds to construct the car park. This would have disastrous financial consequences for the 1st Defendant, including foreclosure of the said loan facility; the immediate closure of the car park; and a demand by Cal Bank to the 1st Defendant to immediately repay the outstanding balance of the loan facility. A copy of the documents evidencing the said Loan Facility is attached hereto as Exhibits “F1”, “F2” and “F3”.

b. The 1st Defendant would be at risk of having to refund a substantial amount of rent paid by the tenants of Opeibia House and the Grand Oyeeman Building or pay a substantial amount in damages to the tenants, since those tenants would be at liberty to terminate their respective leases with the 1st Defendant, due to the 1st Defendant’s inability to