Millennium Insurance E Company Ltd Vrs Ndk Financial Services Ltd [2022] GHAHC 56 (28 November 2022)

Millennium Insurance E Company Ltd Vrs Ndk Financial Services Ltd [2022] GHAHC 56 (28 November 2022)

The Power of Attorney was validly executed and witnessed, and the Defendant admitted the debt in its pleadings. The Defendant's technical objections lacked merit and there was no genuine defence to the claim. Summary judgment was appropriate to avoid unnecessary delay.

Citation
[2022] GHAHC 56
Parties
Plaintiff: Millenium Insurance Company Ltd; Defendant: NDK Financial Services Ltd
Court
High Court
Jurisdiction
Ghana
Judgment Date
28 November 2022
Procedural Posture
Commercial / Summary Judgment Application
Outcome
Summary judgment for the Plaintiff
Legal Topics
Summary Judgment, Debt Recovery, Power of Attorney Validity
Source Language
English
Commercial Law Contract Law Summary Judgment Debt Recovery Power of Attorney Validity

Case Brief

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Parties

Millenium Insurance Company Ltd

Plaintiff

NDK Financial Services Ltd

Defendant

Procedural Posture

Commercial / Summary Judgment Application

Legal Issues

  1. 1 Whether the Plaintiff made financial investments with the Defendant
  2. 2 Whether the Defendant is indebted to the Plaintiff for GH¢15,025,674.55 as at May 28th 2021
  3. 3 Whether the Plaintiff had capacity to institute the action via Power of Attorney

Ratio Decidendi

The Power of Attorney was validly executed and witnessed, and the Defendant admitted the debt in its pleadings. The Defendant's technical objections lacked merit and there was no genuine defence to the claim. Summary judgment was appropriate to avoid unnecessary delay.

Court Disposition

Summary judgment for the Plaintiff

Orders

  • Plaintiff to recover GH¢15,025,674.55 from Defendant as principal and interest on investment as at 28th May, 2021
  • Interest on GH¢15,025,674.55 at the Commercial Bank Lending (GCB PLC Rate) from 29th May, 2021 to date of final payment