Bank Of Africa Ltd Vrs Gracefield Merchants Ltd and Others [2020] GHASC 2 (5 February 2020)

Bank Of Africa Ltd Vrs Gracefield Merchants Ltd and Others [2020] GHASC 2 (5 February 2020)

The claimants were bona fide purchasers for value without notice, as the mortgage was unregistered at the time of assignment and there was no evidence of actual or constructive notice; therefore, the properties were properly discharged from attachment.

Citation
[2020] GHASC 2
Parties
Plaintiff/judgment Creditor/appellant/appellant: Bank of Africa Ltd; Defendant/judgment Debtor: Gracefield Merchants Ltd; Defendant/judgment Debtor: Dr. Kofi Ruben Atekpe; Defendant/judgment Debtor: Kofi Kwakwa; Claimant/respondent/respondent (1st): Mike Twum Barimah; Claimant/respondent/respondent (2nd): Robert Allen
Court
Supreme Court
Jurisdiction
Ghana
Judgment Date
5 February 2020
Procedural Posture
Civil Appeal / Supreme Court Judgment
Outcome
appeal dismissed
Legal Topics
Bona Fide Purchaser, Mortgage Registration, Priority of Interests, Interpleader Proceedings, Attachment and Execution
Source Language
English
Property Law Banking Law Civil Procedure Bona Fide Purchaser Mortgage Registration Priority of Interests Interpleader Proceedings Attachment and Execution

Case Brief

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Parties

Bank of Africa Ltd

Plaintiff/judgment Creditor/appellant/appellant

Gracefield Merchants Ltd

Defendant/judgment Debtor

Dr. Kofi Ruben Atekpe

Defendant/judgment Debtor

Kofi Kwakwa

Defendant/judgment Debtor

Mike Twum Barimah

Claimant/respondent/respondent (1st)

Robert Allen

Claimant/respondent/respondent (2nd)

Procedural Posture

Civil Appeal / Supreme Court Judgment

Legal Issues

  1. 1 Whether the claimants were bona fide purchasers for value without notice
  2. 2 Whether the unregistered mortgage was enforceable against the claimants
  3. 3 Whether the lower courts erred in discharging the properties from attachment

Ratio Decidendi

The claimants were bona fide purchasers for value without notice, as the mortgage was unregistered at the time of assignment and there was no evidence of actual or constructive notice; therefore, the properties were properly discharged from attachment.

Court Disposition

appeal dismissed

Orders

  • Properties discharged from attachment under the writ of fieri facias.
  • Appellant to enforce judgment against original defendants only.