JUDGEMENT OF BROBBEY J.O
On 6 January 1988 judgment was awarded against the defendant-applicants in the sum of ¢27,146,206 with interest of 23½ per cent. After some efforts by the plaintiff-respondents to demand payment of the debt and failure of the applicants to make payment, the respondents went into execution. In the middle of the execution, the applicant filed the instant application for orders to set aside the execution and to pay the debt by agreed instalments.
The main arguments advanced by Dr. Seth Twum who appeared for the applicants in respect of the first relief is that the execution itself is illegal in so far as it was based on interest which was not permitted by law. In further development of that point, Dr. Twum argued that Order 42, r.15 of the High Court (Civil Procedure) Rules, 1954 (L.N. 140A) authorised the courts to grant interest at the rate of four per cent but the original court order stipulated 23½ per cent and, additionally, that the bank in calculating the am…