ZICON CONSULT LIMITED VRS GHANA LIBYAN-ARAB HOLDING CO. LTD 
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COMMERCIAL  COURT CASES

 

IN THE HIGH COURT OF JUSTICE (COMMERCIAL DIVISION) HELD IN ACCRA ON  20TH MAY  2010 BEFORE HER LADYSHIP BARBARA ACKAH-YENSU (J)

 

SUIT NO.BDC/20/09

 

 ZICON CONSULT LIMITED                                               === PLAINTIFF

 

                                                          VRS.

 

GHANA LIBYAN-ARAB HOLDING CO. LTD                   === DEFENDANT
 

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JUDGMENT:

 

Plaintiff has sued Defendant for the following reliefs:

 

“     a.  Specific Performance of an agreement between the Plaintiff   

and the Defendant for the sale by the Defendant to the Plaintiff of the property known as Anchor House located at Osu.

 

b.   Perpetual Injunction restraining the Defendant, its assigns,

     agents and representatives from assigning the Defendant  

     interest in Anchor House to a Third party or putting any person    

    other than the Plaintiff’s as an Assignee of the said anchor

    House.

 

c.  Further or alternatively damages for breach of contract

Alternatively,

 

d.    Repayment to the Plaintiff of the deposit of $166,666.70 or its current cedi equivalent paid hereinunder with interest at the prevailing bank rate from 9th December 2008 till date of final payment.

 

e.   A declaration that the Plaintiff is entitled to a lien on the said property for its deposit (together with interest thereon) and any damages and costs awarded in this action.

 

f.     Damages

 

        In any event;

 

g.    Costs

 

h.    Any other remedy as the court may consider fit to order.

 

By its pleadings and the evidence adduced on its behalf, Plaintiff made a proposal to Defendant Company to purchase its property known as Anchor House located in Osu.  Exhibit “Aâ€ is a letter from Plaintiff with the subject matter being “Expression of Interest.â€ In Exhibit “Aâ€, Plaintiff made a proposal to purchase the property in question for US$730,000.00. After further discussions, Plaintiff proposed to purchase the property for US$750,000.00; Exhibit “Bâ€.  By Exhibit “Dâ€, Defendant accepted Plaintiff’s offer, and also stated that Plaintiff was expected to pay 50% of the agreed purchase price as a deposit /advance payment with the remaining 50% to be paid on transfer of the property to Plaintiff.
Plaintiff, in Exhibit “Eâ€, wrote to Defendant to commit to making an advance payment of GH¢200,000.00 on account with a firm assurance to pay an additional GH¢250,000.00 not later than 17th December, 2008.