MERCHANT BANK LTD V. DAMAX CONSTRUCTION CO. LTD., BENJAMIN NTIRI ABOAGYE DUMAS, JOHNSON ATUOBI, GOERGE NTIRI SAFO AND MANSFIELD ASANTE NTIRI

JUDGMENT

By a writ of summons issued on the 22^nd May 2012 the plaintiff claims against the defendants:

An order for the recovery of GH₵668,504.42 being the balance due and owing as at April 2, 2012 on account of credit facilities extended to 1^st defendant by plaintiff on July 27, 2007 repayment of which was guaranteed by 2^nd, 3^rd, 4^th and 5^th defendants but settlement of which defendants have failed to make good several demand notices notwithstanding.

Interest on the said sum of GH₵668,504.42 at the rate of 22.5% per annum calculated at the close of each day and payable at the end of every month on compound basis from April 2, 2012, up to and inclusive of the date of final payment.

Costs, including legal fees, assessed at 10% of the aggregate sum due and payable under the facilities.

The defendants entered Appearance and filed their Defence after the service on them of the Writ and Statement of Claim. A Reply was subsequently filed by the plaintiff and after an unsuccessful pre-trial settl…