TF Financial Services Limited v Sebef Company Limited and Others (CM/RPC/0438/24) [2025] GHAHC 102 (23 May 2025)

IN THE SUPERIOR COURT OF JUDICATURE, IN THE HIGH COURT OF JUSTICE, (COMMERCIAL COURT DIVISION 6) HELD IN ACCRA ON FRIDAY THE 23RD DAY OF MAY, 2025 BEFORE HER LADYSHIP JUSTICE SEDINA AGBEMAVA SUIT NO.: CM/RPC/0438/24 TF FINANCIAL SERVICES LIMITED PLAINTIFF #30, INDEPENDENCE AVENUE RIDGE – ACCRA. VRS. 1. 2. 3. SEBEF COMPANY LIMITED BENJAMIN KWASI ADDEH PERFECT ADDEH ALL OF GPS ADDRESS GD – 085-7021 ST. PETERS, OGBOJO, OPPOSITE OGBOJO TOTAL DEFENDANTS FUELLING STATION. 4. ST. VINCENT COLLEGE OF EDUCATION YENDI. --------------------------------------------------------------------------------------------------------------------- PARTIES: PLAINTIFF ABSENT 2ND DEFENDANT - PRESENT REPRESENTING OTHER DEFENDANTS COUNSEL: ISAAC TETTEH OPANDOH HOLDING BRIEF FOR BRIGHT OKYERE-AGYEKUM FOR THE PLAINTIFF PRESENT NO LEGAL REPRESENTATION FOR DEFENDANTS PRESENT CONSENT JUDGMENT A. WHEREAS: 1. On 5th April 2024, Plaintiff per Solicitors sued out a Writ of Summons and Statement of Claim against the Defendants for the following reliefs: a. Recovery of the sum of Fifty Thousand, Five Hundred and Sixty Ghana Cedis (GH¢50,560.00) being Defendants’ indebtedness to Plaintiff as of 26th March, 2024. b. Interest on the said Fifty Thousand, Five Hundred and Sixty Ghana Cedis (GH¢50,560.00) at the rate of 36% per annum from 27th March, 2024 till date of final payment. 2. 1st to 3rd Defendants per Counsel filed their Statement of Defence on 12th June, 2024 having paid Ten Thousand, Eight Hundred Eighty-Nine Ghana Cedis (GH¢10,889.00) on account in April, 2024. 3. The suit is ripe for hearing B. THE PLAINTIFF AND 1ST TO 3RD DEFENDANT HAVE AGREED TO SETTLE THE SUIT AS FOLLOWS: 1. Consent Judgment be and hereby entered in favour of the Plaintiff against the 1st to 3rd Defendants jointly and severally for the sum of Sixty-Six Thousand and Seventy-One (GH¢66,071.00) being the indebtedness as of 1st February, 2025. 2. Interest shall be frozen on the said Sixty-Six Thousand and Seventy-One (GH¢66,071.00). 3. The said Sixty-Six Thousand and Seventy-One (GH¢66,071.00) shall be paid by equal monthly instalments of Six Thousand Ghana Cedis (GH¢6,000.00) effective 31st May, 2025. 4. In the event of a Default, Plaintiff shall be at liberty to proceed into execution for the balance of the debt plus interest at 36% per annum calculable from 2nd February, 2025 until date of final payment. DATED AT ACCRA 20TH DAY OF MAY, 2025. (SGD) (SGD) ……………………………………........... …………………………………… PLAINTIFF 1ST DEFENDANT NAME: ISAAC OSEI NAME: BENJAMIN ADDEH POSITION: HEAD, CREDIT & RECOVERY POSITION: MANAGING DIRECTOR (SGD) …………………………………… 2ND DEFENDANT NAME: BENJAMIN ADDEH (SGD) …………………………………… 3RD DEFENDANT NAME: PERFECT ADDEH (SGD) (SGD) …………………………………………. …………………………………. COUNSEL FOR THE PLAINTIFF COUNSEL FOR THE 1ST TO 3RD DEFENDANTS BY COURT These Terms are hereby entered by the Court as the Consent Judgment of the Court and the suit is accordingly struck out as settled. SEDINA AGBEMAVA J (JUSTICE OF THE HIGH COURT) 5