EDUKU VRS. SKT AEROSHUTTER LTD AND ANOTHER (GJ/1219/2023) [2024] GHAHC 114 (8 March 2024)

EDUKU VRS. SKT AEROSHUTTER LTD AND ANOTHER (GJ/1219/2023) [2024] GHAHC 114 (8 March 2024)

Defendants failed to provide evidence of payments beyond the admitted $70,000 and did not deny the loan or its terms except for currency denomination. Their defence did not raise any serious triable issues. Plaintiff is entitled to judgment for the outstanding amount and interest as per the agreement and prevailing commercial bank rates.

Citation
EDUKU VRS. SKT AEROSHUTTER LTD AND ANOTHER (GJ/1219/2023) [2024] GHAHC 114 (8 March 2024)
Parties
Plaintiff: Francis Eduku; 1st Defendant: SKT Aeroshutter Ltd; 2nd Defendant: Francis Owusu
Court
ghahc
Jurisdiction
Ghana
Judgment Date
8 March 2024
Procedural Posture
Civil (loan Recovery) / Summary Judgment
Outcome
Judgment for Plaintiff
Legal Topics
Loan Agreement, Summary Judgment, Interest Rate, Collateral, Debt Recovery
Source Language
eng
Contract Law Civil Procedure Loan Agreement Summary Judgment Interest Rate Collateral Debt Recovery

Case Brief

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Parties

Francis Eduku

Plaintiff

SKT Aeroshutter Ltd

1st Defendant

Francis Owusu

2nd Defendant

Procedural Posture

Civil (loan Recovery) / Summary Judgment

Legal Issues

  1. 1 Whether the Defendants have a valid defence to the Plaintiff's claim for recovery of loan and interest
  2. 2 Whether there are triable issues regarding the currency, interest, and payments under the loan agreement

Ratio Decidendi

Defendants failed to provide evidence of payments beyond the admitted $70,000 and did not deny the loan or its terms except for currency denomination. Their defence did not raise any serious triable issues. Plaintiff is entitled to judgment for the outstanding amount and interest as per the agreement and prevailing commercial bank rates.

Court Disposition

Judgment for Plaintiff

Orders

  • Defendants to pay Plaintiff $430,000 in Ghana Cedi equivalent at the date of payment.
  • Interest at current commercial bank rate on cedi equivalent of $500,000 from May 2021 to June 2022, and on cedi equivalent of $430,000 from June 2022 to date of final payment.