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COMMERCIAL  COURT CASES

IN THE SUPERIOR COURT OF JUDICATURE, IN THE HIGH COURT OF JUSTICE GHANA (COMMERCIAL DIVISION) HELD IN ACCRA ON FRIDAY THE 23^RD DAY OF JULY 2010 BEFORE HIS LORDSHIP MR. I. O. TANKO AMADU J.

                                                                                                          SUIT No. BFS/66/2009

IFS FINANCE & LEASING CO. LTD.                  -                       PLAINTIFF

VRS.

NEW VISION MARKETING CO. LTD.                -                       DEFENDANT

JUDGMENT

1.         When this suit came up for trial on the 7/7/2010 neither the Defendants nor their lawyer was in court. Having satisfied myself that notices of trial had been duly served on the Defendants by substitution as ordered by this court, I proceeded pursuant to Order 36 Rule 1(2)(a) to hear evidence from the Plaintiff. The Plaintiff’s evidence per one Kwabena Aboagye a recovery officer is that he knows the Defendants when 1^st Defendant applied for a loan facility of GH¢20,000.00 with interest at 5% which was guaranteed by the 2^nd and 3^rd Defendants who assigned all their receivables and landed property to the Plaintiff. Plaintiff’s witness tendered Exhibits ‘A’ the facility letter from Plaintiff to the 1^st Defendant. Exhibit ‘B’ property documents and Exhibits ‘C’ and ‘D’ the Directors guarantee and assignment made in favour of the Plaintiff. There were demand notices on the Defendants tendered as Exhibits ‘E’ and ‘F’ and Exhibit ‘G’ Defendant’s response to Plaintiff demand.

2.         The evidence before the court is that as of the date of trial Defendant’s indebtedness was in the quantum of GH¢88,254.54. Plaintiff seeks recovery as per the endorsement on the writ.

3.         Notwithstanding the absence of the Defendants in court, I subjected the Plaintiff’s evidence to the prescribed standard provided by the provisions of the Evidence Act 1975 NRCD 323 in particular Sections 10 – 14 of the Act in order to establish whether or not the Plaintiff has discharged its burden of proof. I have also examine the Defendant’s statement of defence to determine whether or not the Defendant has set up a legal defence to the Plaintiff’s claim or whether the Defendants have by their pleadings raised a jurisdictional issue.

4.         There is no such legal defence nor one of jurisdiction raised by the Defendants.

5.         Accordingly, based on the evidential material before me, I hereby enter judgment in favour of the Plaintiff as per the endorsement on the writ.

6.         Let the Plaintiff be at liberty to recover from the Defendants jointly and severally the sum of GH¢88,254.54 being principal sum as endorsed on the writ plus cumulative interest as of 7/7/2010. The Plaintiff shall also recover any interest accrued between 7/7/2010 until the final payment of the judgment debt failing which the Plaintiff is at liberty to sell the 2^nd Defendant’s property subject matter of the mortgage.

7.         I shall award costs of GH¢4,000.00 in favour of the Plaintiff.

(SGD.)

JUSTICE I. O. TANKO AMADU

JUSTICE OF THE HIGH COURT.