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GUARANTY TRUST BANK
V.
STEEL & FORGING LTD. AND 4 OTHERS

(2015) JELR 64591 (CA)

Court of Appeal 26 Feb 2015 Ghana
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- The appellant sued the respondents for unpaid loans and obtained a summary judgment in their favor. - The respondents applied to pay the judgment debt in installments, which was accepted by the court. - The respondents abandoned the payme

Case Details

Suit Number:CIVIL APPEAL NO. H1/171/2014
Judges:MARFUL-SAU J. A (PRESIDING), KORBIE J.A. , TORKORNOO J. A.
Counsel:EDITH AKIWUMI FOR APPELLANT, ERIC OSEI-MENSAH FOR RESPONDENTS

JUDGEMENT

TORKORNOO, J. A:

The plaintiff/judgment creditor/respondent/appellant (hereinafter called appellant) sued the defendant/judgment debtors/applicants/respondents (respondents) for the due payments of both cedi and dollar denominated loans. Summary Judgment was granted against the respondents for all reliefs sought on 19th December 2012. This can be found on page 169 of the Record of Appeal (ROA). The judgment hasn’t been appealed.

The respondents thereafter applied to pay the judgment debt in installments. Their proposals were accepted, and entered by the court. See pages 178 and 179 of the ROA. By this order, the respondents were to pay the judgment debt at the rate of 1.5 million GHC and 300,000 US$ on or before 15th February 2013 and the remainder of the debt in six equal monthly installments.

Significantly, the respondents abandoned this order they had obtained and did not honor the payments as scheduled such that the appellant commenced execution of the judgment debt. The app…

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