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…