RULING OF THE HONORABLE JUSTICE LORNARD TAYLOR DELIVERED
ON THE 5tt OCTOBER 2022.
By Order of court dated 34 February 2021, this court awarded the
Defendant 12 months within which it was to liquidate its debt with the
Plaintiff, failing which the Plaintiff would be at liberty to commence
foreclosure proceedings with respect to the collateral deposited as security
for the debt.
As is self-evident, this period granted by the court has elapsed and the
Plaintiffs allegation is that the defendant is yet to satisfy the judgment debt.
This is an application by the Plaintiff to commence foreclosure proceedings
with respect to the following mortgages which are collateral for the debt
owed to the Plaintiff;
1. Mortgage deed dated 9th January 2004 and registered as No. 4/2004
at page 33 in volume 75 of the book of Mortgages at the Office of the
Administrator and Registrar General in Freetown.
2. Further Mortgage deed dated 14? March 2007 and registered as No.
32/2007 at page 25 in volume 78 of the book of Mortgages at the
Office of the Administrator and Registrar General in Freetown.
3. Further Mortgage deed dated 23'4 August 2007 and registered as No.
135/2007 at page 131 in volume 78 of the book of Mortgages at the
Office of the Administrator and Registrar General in Freetown.
4. Further Mortgage deed dated 19% July 2010 and registered as No.
164/2010 at page 12 in volume 83 of the book of Mortgages at the
Office of the Administrator and Registrar General in Freetown.
The defendant has not denied the allegations of the Plaintiff and counsel for
the defendant is categorical in stating that the defendant is not opposed to
the present application.
The defendant is therefore in breach of the Orders of this court and in the
circumstances, I order as follows;
1. The Plaintiff is at liberty to foreclose on property belonging to Premier
Properties Sierra Leone Limited situate at Wilberforce loop,
Wilberforce Freetown measuring 2.0375 acres and more particularly
delineated on survey plan numbered LS 52/03 and dated 24 May
2003.
. The defendant is at liberty to satisfy the judgment debt in full on or
before the 1st November 2022 and should he satisfy the said judgment
debt in full, the mortgaged property shall be re-conveyed forthwith
thereafter.
Where the defendant fails to satisfy the judgment debt as ordered
above, the Plaintiff shall be at liberty to present a deed of conveyance
for the foreclosed property to the Master and Registrar for execution.
Until such execution is done by the Master and Registrar, the
defendant remains at liberty to satisfy the judgment debt in full and
redeem the mortgaged property.
The cost of this application is assessed at Le 10 Million to be paid by
the defendant to counsel for the Plaintiff.