M. BASHIRU LIVINGMAN ELECTRICAL COMPANY LIMITED v. BEROCK VENTURES LIMITED

JUDGMENT

By a writ issued on the 16th January, 2012 the plaintiff claims against the defendant:

a. An order for an audited final account of the contract.

b. An order for the assessment of profit accruing to the joint venture

c. An order for the payment of 30% of such profit by the defendant to the plaintiff

d. Interest on the plaintiff’s share of profit at the current interest rate from the 8th August, 2011 to date of final payment.

e. Any other relief deemed fit by this Honourable Court.

The defendant entered appearance to the writ after service of the writ and its accompanying statement of claim. A Reply was thereafter served by the plaintiff and after the failure of pre-trial settlement, the case was set down for hearing at which the plaintiff gave evidence through its representative, Mohammed Bashiru, the managing director of the plaintiff company and closed its case. The defendant also testified per its representative, Samuel Etornam Kornu, and then announced the closure of the defendant’s case. Before the parties could give evidence however, an application was made for the appointment of an Auditor to audit the books of the joint venture and report to the court. The court, subsequently, appointed Ernst & Young, Chartered Accountants on the strength of section 114 (1) of the Evidence Act 1975, NRCD 323. The auditors then audited the books of the joint ventureship and presented a report which was admitted in evidence as exhibit CE1.

From the pleadings of the parties the court finds as a fact that the following matters are not in issue or dispute in view of admissions made by the defendant in its statement of defence:

That the plaintiff and the defendant are both limited liability companies registered under the laws of Ghana and that the plaintiff’s offices are located in Tamale whiles the defendant’s offices are located in Accra.

That in or about January 2010 the plaintiff was contacted by the defendant concerning a project on tender from the Millennium Development Authority (MiDA) for the construction of Rural Electrification Infrastructure in the Northern Intervention Zone.

That after discussion in March 2010 the parties formed a joint venture known as Berock Bashiru Joint Venture for the tendering of the said project. Indeed at the trial, the joint venture agreement between the parties was admitted in evidence as exhibit 1A

That the joint venture submitted a bid or tender for the project. That the project was eventually awarded to the jo