TERMS OF SETTLEMENT
A) The Plaintiff commenced this Suit against the Defendant claiming the following reliefs against the Company:
i. The sum of One Million Five Hundred Thousand Ghana Cedis (GH¢1,500.000.00).
ii. Interest on the GH¢1,500,000.00 sum at the contractual rate of 30% per annum calculated from 2nd August, 2017 to the date of final payment.
iii. Damages in the sum amount of One Hundred and Fifty Thousand Ghana Cedis (10% of the claim amount), being thelegal fees, expended by the Plaintiff company on legal professional service to retrieve its claim amount from the Defendant.
B) The Defendant filed a statement of defence to the suit contesting the Plaintiff’s claims.
C) The Court appointed an independent auditor to access and reconcile the claims of the Parties in the matter. Pursuant to the preparation of the auditor’s report the Parties made some concessions and agreed on the principal amount owed to the Plaintiff but disagree on the rate of the con…