CARBON COMMODITIES DMCC VRS TRUST LINK VENTURES LTD. (RPC/196/2015) [2024] GHAHC 59 (29 May 2024)

IN THE SUPERIOR COURT OF JUDICATURE IN THE COMMERCIAL DIVISION (COURT 1) OF THE HIGH COURT OF JUSTICE ACCRA, HELD ON WEDNESDAY THE 29TH DAY OF MAY, 2024 BEFORE HER LADYSHIP JUSTICE SHEILA MINTA SUIT NO. RPC/196/2015 CARBON COMMODITIES DMCC : PLAINTIFF VRS. TRUST LINK VENTURES LTD. : DEFENDANT PARTIES: ABSENT COUNSEL: LILY NTREH, ESQ., HOLDING BRIEF FOR NANA AMA STEPHENS, ESQ., FOR THE PLAINTIFF – PRESENT NAA AYORKOR CATO-BROWNE, ESQ., WITH AKUA OWUSU- KORANTENG, ESQ., HOLDING BRIEF FOR OSAFO BUABENG, ESQ., FOR DEFENDANT – PRESENT ----------------------------------------------------------------------------------------------------------- CONSENT JUDGMENT Let the Terms of Settlement executed, signed by the parties and filed at the Registry of this Court on 20th May, 2024 be and is hereby adopted and entered as the Consent Judgment of the Court as follows: 1. The Defendant shall pay to the Plaintiff the sum of One Hundred and Fifteen Thousand, Seven Hundred and Forty-One United States Dollars, Fifty-Seven Cents (USD$115,741.57) in its Cedi equivalent as at the date of payment as full and final settlement of the Plaintiff’s claim against the Defendant. 1 2. The said sum of One Hundred and Fifteen Thousand, Seven Hundred and Forty-One United States Dollars, Fifty-Seven Cents (USD$115,741.57) shall be paid in four monthly instalments starting from May 2024 and ending in August 2024. 3. The Defendant shall pay a first tranche of the cedi equivalent of Fifty Thousand United States Dollars (USD$50,000.00) in its cedi equivalent determined by the Republic Bank rate as at the date of payment at the end of May. 4. The outstanding balance of Sixty-Five Thousand, Seven Hundred and Forty-one United States Dollars, Fifty-Seven Cents (USD$65,971.57) shall be paid in three equal monthly instalments starting from June 2024 to August 2024, paying an amount of Twenty-One Thousand Nine Hundred and Thirteen United States Dollars, Eighty-Five Cents (UDS$21,913.85) in its Cedi equivalent determined by the Republic Bank rate as at the date of Payment, each month. 5. Upon default by the Defendant of any of the payments under the terms of this Agreement, the Plaintiff shall be entitled to immediately levy execution for the entire sum outstanding, together with interest at the prevailing commercial bank rate without further recourse to the Defendant. 6. These terms constitute the entire agreement between the Parties and supersede all previous agreements, promises, representations, and understandings between them, whether written or oral relating to this subject matter. 7. Any person executing this settlement agreement in a representative capacity, warrants that he/she is fully authorized to do so. (SGD.) SHEILA MINTA, J. JUSTICE OF THE HIGH COURT 2