judy.legal
Login Register

STANBIC BANK GHANA LIMITED V. EMMANUEL ADDO

(2014) JELR 69485 (HC)

High Court  •  SUIT NO.BFS/9/13  •  30 Oct 2014  •  Ghana

Coram
NGELINA MENSAH-HOMIAH (MRS.) JUSTICE OF THE HIGH COURT

Judgement

JUDGMENT

This is an action by the Plaintiff Bank to recover the outstanding balance of an over draft facility (O/D) of Forty-Five Thousand Ghana Cedis (GH¢45,000.00) which was granted to the Defendant in the year 2007.

In its statement of claim filed on 28/09/2012, the Plaintiff averred that it initially advanced a term loan of Thirty Thousand Ghana Cedis (GH¢ 30,000.00) together with the O/D but the term loan was paid off in the course of time. The amount which remained unpaid on the enhanced O/D stood at Eighty- Five Thousand, Two hundred and Forty-Two Ghana Cedis, Fifty-Four Pesewas (GH¢85,242.54) as at 06/08/2012.

It is also the Plaintiff’s case that by a facility letter dated 18/01/2011, the outstanding balance on the O/D in the sum of Ninety Thousand, Seven Hundred and Thirty-One Ghana Cedis, and Thirty-Two Pesewas was converted into a loan. Per this facility letter, any sum which was due but remained unpaid attracted an interest of 10% above the Plaintiff’s base rate prevailing fr…

There's more. Sign in to continue reading

judy.legal is the comprehensive database of case law and legislation from Ghana, Kenya and Nigeria. Gain seamless access to over 20,000 cases, recent judgments, statutes, and rules of court.


Get started   Login