BEIGE CAPITAL SAVINGS AND LOAN V. SIR ERNEST FARMS AND LOGISTICS AND ANOTHER

BAFFOUR, J.

Plaintiff, a non bank financial institution claim the following reliefs endorsed on its writ issued against the defendants on the 26th of November, 2014:

a. An order for the honourable court directed at the Defendants for the recovery by the Plaintiff of the sum of Gh¢2,482,157.79

b. Penalty of Gh¢2,482,157.79

c. Interest of 4% per month on the outstanding balance with effect from 1st October, 2014 till date of payment.

d. Costs including Solicitor’s fees

Or in the alternative

1. An order for the judicial sale of the residential property situate at Dzorwulu, Accra and described as No C27/14 Kpentenbiibi Street and registered at the Lands Registry with No LD 8455/AC 11933.

The factual basis for the claim of the Plaintiff can be summarized as follows: That by a loan agreement on the 23rd of December, 2013 executed between the parties, Plaintiff granted a loan in the sum of Ghc¢1,800.000.00 to the 1st Defendant for the purpose of obtaining supplies of commodities like rice, sugar, co…