International Rom Ltd Vrs Vodafone Ghana Ltd and Another [2016] GHASC 79 (26 October 2016)

International Rom Ltd Vrs Vodafone Ghana Ltd and Another [2016] GHASC 79 (26 October 2016)

The applicable interest rates and calculation methods are those expressly agreed in the undertakings (exhibits 3, 4, and 10). Both the plaintiff and 1st defendant are jointly liable for the outstanding balance under the undertakings due to their joint failure to honour their obligations. No clarification is required regarding interest on half payment of judgment debt not released due to stay of execution, as it does not arise from the judgment under consideration.

Citation
[2016] GHASC 79
Parties
Plaintiff/respondent/applicant: International Rom Limited; 1st Defendant/appellant/respondent: Vodafone Ghana Limited; 2nd Defendant: Fidelity Bank Limited
Court
Supreme Court
Jurisdiction
Ghana
Judgment Date
26 October 2016
Procedural Posture
Civil Motion / Ruling on Application for Clarification of Judgment
Outcome
application for clarification allowed in part and dismissed in part
Legal Topics
Interpretation of Undertakings, Interest Calculation, Joint Liability, Clarification of Judgment
Source Language
English
Contract Law Banking Law Interpretation of Undertakings Interest Calculation Joint Liability Clarification of Judgment

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 4 Party arguments 2
Sign in to unlock

Parties

International Rom Limited

Plaintiff/respondent/applicant

Vodafone Ghana Limited

1st Defendant/appellant/respondent

Fidelity Bank Limited

2nd Defendant

Procedural Posture

Civil Motion / Ruling on Application for Clarification of Judgment

Legal Issues

  1. 1 What is the applicable rate and nature of interest on the outstanding indebtedness under the undertakings?
  2. 2 What is the effect of the substitution of an award for the outstanding balance under the undertaking from both plaintiff and 1st defendant jointly?
  3. 3 Is interest chargeable on half payment of judgment debt by 1st Defendant but not released to Plaintiff as a result of stay of execution?

Ratio Decidendi

The applicable interest rates and calculation methods are those expressly agreed in the undertakings (exhibits 3, 4, and 10). Both the plaintiff and 1st defendant are jointly liable for the outstanding balance under the undertakings due to their joint failure to honour their obligations. No clarification is required regarding interest on half payment of judgment debt not released due to stay of execution, as it does not arise from the judgment under consideration.

Court Disposition

application for clarification allowed in part and dismissed in part

Orders

  • Clarification granted that interest is to be calculated as per the terms of exhibits 3, 4, and 10.
  • No further clarification required on joint liability; order stands as made.