Total Petroleum Ghana Limited Vrs Ofori [2023] GHAHC 276 (4 September 2023)

Total Petroleum Ghana Limited Vrs Ofori [2023] GHAHC 276 (4 September 2023)

The court enhanced the value of the attached property above the forced sale price due to frequent increases in building material costs and prevailing market conditions, exercising its discretion to depart from the expert's valuation with reasons assigned.

Citation
[2023] GHAHC 276
Parties
Plaintiff/applicant: Total Petroleum Ghana Limited; Defendant/judgment Debtor: Joseph Nana Ofori; Claimant: Claimant
Court
High Court
Jurisdiction
Ghana
Judgment Date
4 September 2023
Procedural Posture
Commercial / Ruling on Application for Determination of Reserved Price
Outcome
Application granted with modification
Legal Topics
Execution of Judgment, Determination of Reserved Price, Valuation of Property
Source Language
English
Civil Procedure Commercial Law Execution of Judgment Determination of Reserved Price Valuation of Property

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Parties

Total Petroleum Ghana Limited

Plaintiff/applicant

Joseph Nana Ofori

Defendant/judgment Debtor

Claimant

Claimant

Procedural Posture

Commercial / Ruling on Application for Determination of Reserved Price

Legal Issues

  1. 1 Whether the court should grant the application for determination of the reserved price for the attached property
  2. 2 Whether the court is bound by the expert valuer's opinion on property value

Ratio Decidendi

The court enhanced the value of the attached property above the forced sale price due to frequent increases in building material costs and prevailing market conditions, exercising its discretion to depart from the expert's valuation with reasons assigned.

Court Disposition

Application granted with modification

Orders

  • The attached property should not be sold for less than GH¢14,016,200.