Accra High Court Commercial Division has ordered the sale of the properties of Industrial Aggregates Limited and two others; Abdul Kareem Abu, and Samira Ibrahim Abu, for defaulting in the payment of a US$3,251,559.17 loan secured from the Bank of Africa (Ghana) Limited (Plaintiff),
"Interest on the sum of US$3,251,559.17, at an agreed rate of 12 per cent per annum from March 15, 2013, to date of final payment [is] in the sum of US$2,218,186.94 as at 22 November 2018", according to judgement of the court, dated November 9, 2018, and sighted by the Ghanaian Times.
The court also awarded GH¢35,000 cost against the defendants, which include the registrar's poundage, officer's fees, cost of levying and all other legal incidental expenses.
Properties attached to be sold as directed by the court include two residential properties situated at Trassaco Valley - Plot 245 and Plot 246 - and their contents, all vehicles of the defendants at the above properties and Aurora Apartments behind the Jubilee House in Kanda, Accra.
The Fieri Facia, the writ of execution after a judgment is obtained, was triggered on behalf of the plaintiff by Bentsi-Enchill, Letsa and Ankomah on June 27, 2019, after judgement was delivered on November 9, 2018.
In an attachment exercise undertaken by a court bailiff under armed police protection in Accra last Tuesday, the third defendant attempted blocking the court official from pasting the notice.
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It took the intervention of the estate manager of Trassaco Valley, who had to scrutinise all court documents sanctioning the sale of the properties, before the notice was pasted.
An attempt to take custody of a movable property of the defendants - a Range Rover with registration number GS 8866- 17 - was also foiled by the third defendant, Samira Ibrahim Abu.
At the Aurora Apartments, however, there was no incident as security guards at the entrance of the five-storey with several rooms looked on as the bailiff pasted the notice.
Sources within the team which undertook the exercise told the Ghanaian Times that the properties would be valued and auctioned soon to defray the cost.
"We are hoping that with this attachment, the defaulters will honour their loan obligation. With this attachment, they would know that their properties, which could be more than the amount involved, could be on the line," the source said.
