On 9 February 1987 the plaintiff-bank issued out of this court a writ of summons against the defendants jointly and severally, claiming:
“1. ¢17,597,914.19 being the total of an I.D.A. term and working capital loan granted the first defendant and guaranteed by the second and third defendants as well as ten per cent per annum charge as at 31 December 1986 on the I.D.A. term loan of ¢1,170,872.15 in addition to accumulated interest as at 31 December 1986 of ¢7,775,981.95 on both I.D.A. loans the repayment of which moneys has been long overdue.
2. Further accruals of interest and other charges on the outstanding balance from time to time of the I.D.A. term and working capital loans from 1 January 1987 to the date of repayment at the prevailing bank rate (on forestry) of 22 and a half per cent per annum or such other bank rate adjustments as shall be made by the Bank of Ghana in accordance with the heads of agreement between the parties.
3. The plaintiff further claims aga…