The Supreme Court, Tuesday, adjourned the Review Judgment case between Dominion Corporate Trustees and the National Investment Bank to March 14, 2018.
The Court in June, 2017, directed the National Investment Bank (NIB) not to pay the $60million judgment debt the High Court in Accra asked it to pay Dominion Corporate Trustees Limited in 2013.
Kasapa FM’s court correspondent, Nicholas Cudjoe reports that the Commercial Division of the High Court, presided over by Mr Justice Amadu Tanko, on February 21, 2013, gave judgement against NIB in favour of Dominion Corporate Trustees Limited of Channel Islands, UK, for the recovery of the sum of US$60 million, plus interest, with effect from January 29, 2009, to the date of final payment.
The Court of Appeal, on July 4, 2013, stayed the execution of the judgement of the Commercial Court pending the outcome of an appeal filed by the NIB.
The bank, whose debt had doubled with a daily interest of $20,000), pleaded with the Appeals Court to quash the Commercial Court’s decision because it was defective.
NIB lost the appeal and proceeded to the Supreme Court.
Dominion Corporate Trustees has filed a Review of the Supreme Court’s Judgment.
Lawyer for the Dominion Corporate Trustees, Nene Amegatcher argued that the Supreme Court’s position that the Company did not provide names of the Trustees, and for that matter does not deserve the $60million Judgment debt should be reconsidered.
Lawyer for NIB, Benson Nutsupkui however disagreed. He informed the Court not to go into the merit of the case. He added that the Judgment of the Court was a right decision.
The Court, presided over by Her Ladyship Sophia Akuffo adjourned the case to March 14, 2018 for ruling, on the issues raised by lawyers of both parties.
