By a writ of summons issued on the 5th March 2013, the plaintiff claims from the defendant:
(a) Recovery of the sum of GH¢60,971 (made up of GH¢40,542.00 as principal on the credit facilities granted to the Defendant and GH¢20,429.00 as accrued interest on the principal loans from 29th September, 2009 to September, 2012).
(b) Interest on the sum of GH¢60,971 at the prevailing commercial bank rate with effect from 1st January, 2013 to date of final payment.
(c) Cost incurred in this matter.
(d) Any other order(s) as this Honourable Court may deem fit.
After service of the writ and its accompanying statement of claim on the defendant and after the entry of appearance and the filing of a statement of defence by the defendant, the matter was referred for pre-trial settlement. However, when pre-trial settlement broke down, the following issues were set down for determination at the trial:
1. Whether or not the Plaintiff invested the total sum of GH¢78,842.00 in the Defendant Company…