STANBIC BANK GHANA LIMITED VS MAGNA TERRIS LIMITED & 3 ORS
2018
HIGH COURT
GHANA
CORAM
- JUSTICE GEORGE BUADI J.
Areas of Law
- Property and Real Estate Law
- Civil Procedure
2018
HIGH COURT
GHANA
CORAM
AI Generated Summary
The interpleader proceedings involved Bank of Ghana & 9 Others, Ghana Home Loans, and Fidelity Bank, each claiming interests in a property attached to satisfy a judgment debt of the defendant to the plaintiff. The court addressed the ownership and attachment validity of the property. It held that the plaintiff's attachment and potential sale of the property were valid as the claimants from the Bank of Ghana had unregistered and unstamped land instruments which were ineffective according to statutory laws. Therefore, the plaintiff's priority on the mortgage was affirmed, and the attachment was deemed lawful to satisfy the judgment debt.
1.0 Background
1.1 This is interpleader proceedings pursuant to notices of claim by three claimants: the Bank of Ghana & 9 Others; the Ghana Home Loans; and the Fidelity Bank who claim separate interests in the landed property that the Deputy Sheriff had attached for sale to satisfy defendant’s judgment debt to plaintiff execution creditor. Their claim therefore is that the attachment of the property is wrongful, as the property does not belong to the defendant judgment debtor, and that it cannot be a subject matter for attachment for judicial sale to satisfy defendant’s judgment debt to plaintiff. Plaintiff disputes claimants’ 2 | P a g e
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separate claims, culminating in this proceedings aimed to determine ownership of the said property.
1.2 Upon filing and receipt of claimants’ affidavits of interests, and subsequent supplementary affidavits, and plaintiff’s responses thereto, the court on the face of the papers filed committed itself to resolve the matter summarily pursuant to Order 48 Rule 8 of the Rules of Court. The court directed the lawyers to file their legal perspectives on their interests in the subject matter, which they dutifully complied, including even supplementary addresses they filed pursuant to further orders of the court dated 12 June 2018.
1.3 The issue for consideration by the court, like all interpleader proceedings as held in Salama v Sharani [1973] 2 GLR 364 is the ownership of the attached property; that is, whether or not the property belong to defendant judgment debtor, and whether the attachment was valid for judicial sale to satisfy defendant’s judgment debt to plaintiff judgment execution creditor. Rep. v. High Court, Accra; Exparte Anyan [2009] SCGLR 255, at page 261,
2.0 The claims and responses
2.1 Plaintiff execution creditor’s interest in the attached subject matter property is on the back of a judgment plaintiff obtained against defendant following default of repayment of a loan facility that was secured by a mortgage of defendant’s 12.46 acre land at Oshiokpo, Dawhenya, Community 25 Tema. Exhibit A is evidence of the loan agreement between plaintiff and defendant, which as I have said just 3 | P a g e
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above run into default. On the face of Exhibit A, defendant in 3 October 2011 accepted plaintiff’s loan offer dated 30 September 2011. Exhibit B is a mortgage deed executed in November 2011 over the landed property that belongs to defendant in plaintiff’s favour. Exhibit C is a Land Cer