REPUBLIC INVESTMENT SERVICES LTD VS CRADDLE INFORMATION SYSTEMS LTD

MR. ADDICO: Parties have agreed to settle the matter and have since filed their Terms of Settlement dated 18th April, 2023 we pray for the court to adopt same as Consent Judgment of the court.

MR. KENU: We have fully accepted the Terms of Settlement and are agreeable that same be adopted as Consent Judgment.

BY COURT: The Terms of Settlement filed on 18th April 2023, attest to parties having agreed on the following:

1. The Terms of Settlement contained shall be adopted by the Honourable Court as Consent Judgment between the Plaintiff and Defendant.

2. Judgment shall be entered for the Plaintiff for recovery of the sum of GH¢1,600,550.77 (One Million Six Hundred Thousand , Five Hundred and Fifty Ghana Cedis and Seventy-seven Pesewas against the Defendant.

3. The said amount shall be paid in the following instalments date due amount.

First Installment: 8/07/2023 GH¢100,000.00

Second Installment: 8/10/2023 GH¢300,000.00

Third Installment 8/01/2024 GH¢400,000.00

Fourth Installment 8/04/2024 GH¢400,000.00

Fifth Installment: 8/07/2024 GH¢400,000.00

1. The payments scheduled in paragraph 6 (now 3) shall be in full and final payment and settlement of all issues arising from this matter.

2. Ex abundante cautella, there shall be no interest chargeable on the settlement amount agreed between the parties provided the Defendant adheres to the payment schedule set out.

3. In the event of default in terms of payments set out herein, payment of the sum of Gh¢1,600,550.77 (One Million Six Hundred Thousand Five Hundred and Fifty Ghana Cedis and Seventy-Seven pesewas) together with interest thereon at the rate of 23% per annum from 12th November 2022 shall be chargeable on the outstanding balance falling due after execution of this settlement and the Plaintiff shall be at liberty to levy execution thereon against the Defendant (less any payments made by the Defendant) subsequent to the execution of this settlement.

4. Additionally a further sum of GH¢50,000.00 (Fifty Thousand Ghana Cedis) shall be paid by the Defendant to Plaintiff towards Plaintiff’s legal expenses which payment shall be added to the final payment.

5. These terms of settlement shall constitute the entire understanding of the Plaintiff and the Defendant and shall conclusively settle all claims by and between the parties.

BY COURT: The court hereby adopts the Terms of Settlement dated 18th April 2023, as Consent Judgment of the court.

(sgd.)

JUSTICE ADELAIDE ABUI KEDDEY

JUSTICE OF THE HIGH