A team of policemen and an auctioneer yesterday confiscated two vehicles belonging to Auto Parts Limited at North Industrial Area, in Accra following an execution order issued by an Accra High Court.
The court, presided over by Justice Sophia Rosetta Bernasko Essah entered judgement against the company for defaulting a total of US$9,171,431.652 loan facility the company took at Stanbic Bank Ghana Limited.
The auctioneer and the Registrar of the Accra High Court, Commercial Division entered the premises of the company at 9.30 am when negotiation for an out of court settlement between the parties failed.
As part of the execution, the Registrar pasted a copy of the court’s order at the entrance of the company.
The court’s order in favour of the plaintiff for recovery from the defendant included the principal amount of US$4,925,073.64, interest at 15 per cent (US$ 4,246,358.012) from October 1, 2012 to July 31, 2018 totalling US$9, 171,431.652.
It was also adjudged that the defendant recover GH¢400,000 in damages from the plaintiff.
When the court entered judgement against the defendant in 2018, the plaintiff filed an order of substituted service and served it on the defendant through a newspaper publication.
Following that, the parties agreed an out court settlement but negotiations broke down, which compelled the plaintiff to carry out the execution of the court’s order.
The particulars of attachment in the Fifa included the 4.163 acres of land on which the company is situated at North Industrial Area, Accra and all movable and immovable property (i.e. vehicles/cars) belonging to the defendant/judgment/debtor.
BY MALIK SULLEMANA
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