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ABK PHARMACEUTICAL INDUSTRIES LTD. AND OTHERS V. SOCIAL SECURITY BANK LTD.

(1992) JELR 63717 (HC)

High Court  •  7 Feb 1992  •  Ghana

Coram
LARTEY J.

Judgement

JUDGMENT

LARTEY J.

This is an application for and on behalf of the first defendant-judgment debtor-applicants (hereinafter referred to as the applicants) praying for an order to set aside the final judgment of this court entered against them and in favour of the plaintiff-judgment creditor-respondents (hereinafter referred to as the respondents), which judgment was entered on 12 October 1990.

At all times material to this action the applicants were customers of the respondents whose Adum branch in Kumasi granted them a loan facility which was said to have accrued to the total indebtedness of ¢28,352,778 being principal and interest as at the close of business on 30 May 1990.

In an affidavit accompanying the motion the applicants averred that they had since March 1990 been holding meetings with the respondents in Accra in respect of their indebtedness, and that the negotiations resulted in the applicants paying over ¢15 million in Accra at the time the respondents’ solicitor moved this cou…

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