STANDARD BANK OFFSHORE TRUST COMPANY LIMITED V. NATIONAL INVESTMENT BANK LIMITED, ELAND INTERNATIONAL GHANA LIMITED AND DANIEL CHARLES GYIMAH

JUDGEMENT

BENIN, JSC:

This matter began as a result of what was said to be a default on the part of the 1^st Defendant/Appellant/Appellant, called the Appellant, to honour its obligations by way of a guarantee of certain promissory notes issued by the 2^nd Defendant herein. The Appellant, through its then Managing Director, the 3^rd Defendant herein, was thought to have guaranteed payment of the promissory notes upon maturity. The holders of the promissory notes considered that in the normal course of business, upon maturity the Appellant would honour its obligations under the guarantee and pay up. But it did not do so for reasons that will be disclosed shortly.

Consequently, by an amended writ of summons, the Plaintiff/Respondent/Respondent, called the Respondent, who claimed to be representing certain investors in the promissory notes, issued a writ of summons at the High Court and sought these reliefs against the Appellant:

(i). Recovery of the sum of sixty million United States dollars (…