PERRISEUO GHANA LTD & ANOTHER vs PROCONSE AFRICA LTD & ORS

The Terms of Settlement filed on the 17th February, 2023 and duly executed by the parties and their respective counsel are hereby adopted as Consent Judgment of this Court. I award the 6th Defendant costs of Two Thousand Ghana Cedis (GH¢2,000.00.) against the Plaintiffs pursuance to the Terms of Settlement reached between Plaintiffs and 1st, 2nd, 3rd, 4th and 5th Defendants. The 6th and 7th Defendants are hereby struck out as parties to the suit.

PREAMBLE

1.0 WHEREAS

1.1 Plaintiffs on 23/01/2023 per Writ of Summons commenced the instant suit against Defendants for the reliefs endorsed thereon:

1.2 The suit directly affects 1st to 5th Defendants with 6th and 7th Defendants as nominal parties.

1.3 Parties have in the overriding interest of peace mutually agreed to settle the entire suit as follows:

(i) That 6th and 7th Defendants’ name be struck out as parties to the suit on the basis that the suit has been settled among the main parties.

(ii) Upon the adoption of the Terms of Settlement as Consent Judgment the charge and/or limitation placed on the accounts of 1st Defendant with 6th and 7th Defendants should be discharged and / or removed as settled.

2.0 It is hereby further agreed as follows:

2.1 The cost of acquisition the subject matter equipment from UK Export Finance by

1st Plaintiff are as follows:

i. The three Unit Equipment namely;

a. ONE NEW TESAB TRACKED 8001 JAW CRUSHER SERIAL NO 21 – 2044-1719.

b. ONE NEW TESAB TRACK 1150TC CONE CRUSHER, SERIAL NO. 33-329-1717

c. NEW TESAB TS3600 SCREENER SERIAL NO. 6388 UK MRN: 22GB08X47658806013 HS CODE: 84741000 (Hereinafter collectively referred to as the Equipment) is in the sum of One Million and Four Thousand Five Hundred Pounds (GBP 1,004,500.00.)

ii. Legal fees of Fifteen Thousand Three Hundred and Ten Pounds (GBP 15,310.00) to UK Vedder for the acquisition of the equipment.

iii. Legal fees to Ghana Bentsi Enchill Letsa & Ankomah is Twelve Thousand and Twenty-Five United States Dollars (US$12,025.00)

iv. Arrangement fee of Ten Thousand One Hundred and Eighty-Five Pounds (GBP 10,185.00) to AF Capital

3.0 1st to 5th Defendants have made the following payment so far:

i. 15% advance part payment of One Hundred and Fifty Thousand Six Hundred and Seventy-Five Pounds (GBP 150,675.00)

ii. 1st to 5th Defendants have paid legal fees to Bentsi Enchill and the Arrangement fees to AF Capital for the equipment as indicated above.

4.0 The Outstanding balance on the equipment

4.1 (i) The outstandi