B5 PLUS LTD. VRS. SPECIAL STEEL LTD. AND OTHERS (CM/RPC/0687/2018) [2025] GHAHC 28 (27 January 2025)

B5 PLUS LTD. VRS. SPECIAL STEEL LTD. AND OTHERS (CM/RPC/0687/2018) [2025] GHAHC 28 (27 January 2025)

Plaintiff established its claims for US$1,376,894.06, GHS45,045,466.31, GHS176,806.00, and 617.58MT of steel billets by documentary evidence, including admissions by 1st Defendant's authorized signatory. Defendants failed to rebut with evidence. No personal guarantee or basis for 2nd Defendant's liability was proven. Claims for customs duties and GHS1,500,000.00 advance failed for lack of evidence.

Citation
[2025] GHAHC 28
Parties
Plaintiff: B5 Plus Ltd.; 1st Defendant: Special Steel Ltd.; 2nd Defendant: Alex Asiedu; 3rd Defendant: Ernst & Young Advisory Services
Court
High Court
Jurisdiction
Ghana
Judgment Date
27 January 2025
Case Number
CM/RPC/0687/2018
Procedural Posture
Civil (commercial) / Judgment
Outcome
Judgment for Plaintiff in part against 1st Defendant; claims against 2nd Defendant dismissed.
Legal Topics
Loan Agreements, Credit Sales, Corporate Liability, Director Liability, Debt Recovery
Source Language
English
Commercial Law Contract Law Company Law Loan Agreements Credit Sales Corporate Liability Director Liability Debt Recovery

Case Brief

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Parties

B5 Plus Ltd.

Plaintiff

Special Steel Ltd.

1st Defendant

Alex Asiedu

2nd Defendant

Ernst & Young Advisory Services

3rd Defendant

Procedural Posture

Civil (commercial) / Judgment

Legal Issues

  1. 1 Whether 1st Defendant is indebted to Plaintiff in the sum of US$1,376,894.06 or its Ghana Cedi equivalent for imported steel billets from 2013
  2. 2 Whether 1st Defendant is indebted to Plaintiff in the sum of GHS45,045,466.31 for various material and financial assistance
  3. 3 Whether 1st Defendant is indebted to Plaintiff in the sum of GHS176,806.00 for goods purchased for refitting and maintenance

Ratio Decidendi

Plaintiff established its claims for US$1,376,894.06, GHS45,045,466.31, GHS176,806.00, and 617.58MT of steel billets by documentary evidence, including admissions by 1st Defendant's authorized signatory. Defendants failed to rebut with evidence. No personal guarantee or basis for 2nd Defendant's liability was proven. Claims for customs duties and GHS1,500,000.00 advance failed for lack of evidence.

Court Disposition

Judgment for Plaintiff in part against 1st Defendant; claims against 2nd Defendant dismissed.

Orders

  • 1st Defendant to pay Plaintiff US$1,376,894.06 with simple interest from 4th July, 2018 at US rate until judgment.
  • 1st Defendant to pay Plaintiff GHS45,045,466.31 with simple interest from 4th July, 2018 at prevailing commercial bank rate until judgment.