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PRUDENTIAL BANK LIMITED v. GYAMFUA ABABIO INVESTMENTS LIMITED & ORS

January 21, 2019

HIGH COURT

GHANA

CORAM

  • Dr. Richmond Osei-Hwere, J

Areas of Law

  • Civil Procedure
  • Banking and Finance Law

AI Generated Summary

The High Court addressed an application by the Plaintiff/Judgment Creditor to fix a reserved price for auctioning the Royale Lamerta Hotel in Kumasi, one of two immovable properties attached to satisfy a consent judgment debt after the Defendants/Judgment Debtors defaulted on settlement terms. The Defendants opposed, arguing the entry of judgment mismatched the courts pronouncement, leave of court was required under Order 44 rule 3(1)(d), the writ of fieri facias was defective for lack of endorsement and had expired, exhibits were unverified, and the hotel (owned by the 3rd Defendant) could not be attached. The court found the entry of judgment accurately mirrored the consent terms, execution was authorized upon default without leave, the endorsement omission was a non-fatal irregularity under Order 81 rule 1, the writ remained valid because attachment occurred within twelve months, and collateral property could be attached. The court confined its ruling to the hotel, and ordered that it be sold not below the forced sale value of GH10,424,200.

RULING