Grofin African Fund (gh) Ltd Vrs Collboy Enterprises Ltd & 2 Ors [2021] GHASC 122 (1 December 2021)

Grofin African Fund (gh) Ltd Vrs Collboy Enterprises Ltd & 2 Ors [2021] GHASC 122 (1 December 2021)

Once a charge or mortgage is registered under the Collateral Registry in accordance with Act 773, the rights and remedies of the lender are governed by Act 773, not the Mortgages Act, and actions to realize such security may be commenced by Originating Notice of Motion. The Court of Appeal's jurisdiction was properly invoked, and the lower courts' concurrent findings were supported by law and evidence.

Citation
[2021] GHASC 122
Parties
Applicant/respondent/respondent: Grofin African Fund (GH) Ltd. suing per its lawful attorney Hope Capital Limited; 1st Respondent/appellant/appellant: Collboy Enterprises Ltd.; 2nd Respondent/appellant/appellant: Paul Agyeman Duah; 3rd Respondent/appellant/appellant: Grace Agyeman Duah
Court
Supreme Court
Jurisdiction
Ghana
Judgment Date
1 December 2021
Procedural Posture
Civil Appeal / Supreme Court Final Appeal
Outcome
Appeal dismissed
Legal Topics
Borrowers and Lenders Act, Mortgage Enforcement, Jurisdiction, Commencement of Actions, Collateral Registration
Source Language
English
Banking and Finance Property Law Civil Procedure Borrowers and Lenders Act Mortgage Enforcement Jurisdiction Commencement of Actions Collateral Registration

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Parties

Grofin African Fund (GH) Ltd. suing per its lawful attorney Hope Capital Limited

Applicant/respondent/respondent

Collboy Enterprises Ltd.

1st Respondent/appellant/appellant

Paul Agyeman Duah

2nd Respondent/appellant/appellant

Grace Agyeman Duah

3rd Respondent/appellant/appellant

Procedural Posture

Civil Appeal / Supreme Court Final Appeal

Legal Issues

  1. 1 Whether the Court of Appeal had jurisdiction to affirm the High Court's decision under the Borrowers and Lenders Act, 2008 (Act 773)
  2. 2 Whether the transaction was governed by the Mortgages Act or Act 773
  3. 3 Whether the action was properly commenced by Originating Notice of Motion under Act 773

Ratio Decidendi

Once a charge or mortgage is registered under the Collateral Registry in accordance with Act 773, the rights and remedies of the lender are governed by Act 773, not the Mortgages Act, and actions to realize such security may be commenced by Originating Notice of Motion. The Court of Appeal's jurisdiction was properly invoked, and the lower courts' concurrent findings were supported by law and evidence.

Court Disposition

Appeal dismissed

Orders

  • Judgments of the High Court and Court of Appeal affirmed
  • Application to realize and take possession of the charged property granted