This is an application on notice brought by the Aluminium Enterprise Limited, the defendant/respondent/applicant against Ecobank Ghana Ltd, the plaintiff/appellant/respondent praying for an order reversing the decision of this court presided over by a single judge dated 1st December 2016. Aluminium Enterprise is hereafter called the Applicant and Ecobank Ghana is called the Respondent.
The facts that have brought the parties to this court are these. The applicant obtained judgment against the respondent at the High Court, Accra for the payment of a liquidated sum. The respondent has appealed against that decision to the Court of Appeal which is yet to hear and determine same. The respondent applied to the High Court for a stay of execution pending appeal. The High Court granted a partial stay by deciding that the respondent should pay a third of the judgment debt to the applicant, whilst the remaining two-thirds should await the outcome of the appeal.
The respondent believed t…