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CAL BANK LIMITED v. ESDAN OCRAN COMPANY LIMITED & Ors

(2019) JELR 107077 (HC)

High Court  •  GJ/968/2018  •  30 Apr 2019  •  Ghana

Coram
AFIA SERWAH ASARE-BOTWE (MRS.)

Judgement

JUDGMENT

This case commenced with the issuance of a writ of summons and statement of claim on the 21st of June, 2018 with the Plaintiff claiming the following reliefs;

1. Recovery of the sum of GH¢3,769,482.24.

2. Interest on the said sum at the rate of 32.5% from January, 2017 to date of final payment.

3. Cost.

THE CASES OF THE PARTIES

THE PLAINTIFF

The claim of the plaintiff is that per a facility agreement dated 1st September, 2016, the 1st Defendant was granted an overdraft of GH¢200,000.00.

The plaintiff alleges further that, in addition to the overdraft facility of 1st September, 2016, the plaintiff subsequently granted various excess facilities to the 1st Defendant amounting to GH¢1,700,000.00 and that per a facility agreement between the Plaintiff and the 1st Defendant dated 25th November, 2016, the Plaintiff alleges that the applicable interest rate of the facilities is 32.5% per annum.

It is also the case of the Plaintiff that the 1st defendant was caused to secur…

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