GHANA COMMERCIAL BANK V. BINOO-OKAI

CECILIA KORANTENG-ADDOW J.: This is an application for summary judgment under the High Court (Civil Procedure) Rules, 1954 (LN 140A), Order 14, r.1. The plaintiff is a financial institution established by statute and transacting commercial banking business throughout the country. The defendant is a customer. He was granted banking facilities in the normal course of business by the plaintiff. As at 27 September 1979, the defendant was indebted to the plaintiff in the sum of ¢732,839.68. The plaintiff claims this amount plus interest calculated at the current rate from 27 September 1979 to the date of final payment.

The claim for the principal is not disputed. The defendant through counsel pleaded liable on the principal sum. He also concedes he is liable to pay interest at the current rate of eighteen and a half per cent, but it has been argued on his behalf that the plaintiff is entitled to interest only up to the date of judgment and not up to the date of final payment. Mr. A. K. Okin…