Ecobank Ghana Limited Vrs Aluminium Enterprise Limited [2020] GHASC 126 (13 May 2020)

Ecobank Ghana Limited Vrs Aluminium Enterprise Limited [2020] GHASC 126 (13 May 2020)

Ecobank is not entitled to recover the loan of 165,000 Ecus as the project failed and EIB does not require repayment; it would be unconscionable to order repayment. Aluminium Enterprise failed to prove negligence or breach of duty by Ecobank with sufficient particularity; damages for loss of profit (GH¢14,963,505.50) and general damages (GH¢500,000) are unsupported and reversed. Amendments to pleadings at late stage deprived Ecobank of fair opportunity to rebut new facts, resulting in miscarriage of justice.

Citation
Ecobank Ghana Limited Vrs Aluminium Enterprise Limited [2020] GHASC 126 (13 May 2020)
Parties
Plaintiff/appellant/appellant: Ecobank Ghana Limited; Defendant/respondent/respondent: Aluminium Enterprise Limited
Court
ghasc
Jurisdiction
Ghana
Judgment Date
13 May 2020
Procedural Posture
Civil Appeal / Final Judgment of Supreme Court
Outcome
Appeal allowed in part; damages and general damages reversed; claim for loan repayment dismissed.
Legal Topics
Negligence, Breach of Contract, Damages, Amendment of Pleadings, Remoteness of Damages, Fiduciary Duty, Banker Customer Relationship
Source Language
eng
Contract Law Tort Law Banking Law Negligence Breach of Contract Damages Amendment of Pleadings Remoteness of Damages +2 more

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Parties

Ecobank Ghana Limited

Plaintiff/appellant/appellant

Aluminium Enterprise Limited

Defendant/respondent/respondent

Procedural Posture

Civil Appeal / Final Judgment of Supreme Court

Legal Issues

  1. 1 Is Ecobank entitled to recover the outstanding loan of 165,000 Ecus from Aluminium Enterprise?
  2. 2 Is Aluminium Enterprise entitled to damages for loss of profit (GH¢14,963,505.50) due to Ecobank's alleged negligence?
  3. 3 Is Aluminium Enterprise entitled to general damages (GH¢500,000) awarded by the Court of Appeal?

Ratio Decidendi

Ecobank is not entitled to recover the loan of 165,000 Ecus as the project failed and EIB does not require repayment; it would be unconscionable to order repayment. Aluminium Enterprise failed to prove negligence or breach of duty by Ecobank with sufficient particularity; damages for loss of profit (GH¢14,963,505.50) and general damages (GH¢500,000) are unsupported and reversed. Amendments to pleadings at late stage deprived Ecobank of fair opportunity to rebut new facts, resulting in miscarriage of justice.

Court Disposition

Appeal allowed in part; damages and general damages reversed; claim for loan repayment dismissed.

Orders

  • Award of GH¢14,963,505.50 damages to Aluminium Enterprise reversed.
  • Award of GH¢500,000 general damages to Aluminium Enterprise reversed.