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STANBIC BANK GHANA LIMITED V. OSEI YAW ANNING

(2012) JELR 68255 (HC)

High Court  •  SUIT NO.BFS/29/12  •  20 Jun 2012  •  Ghana

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

Judgement

JUDGMENT

The Plaintiff is a Banking Institution and the Defendant has been described as a registered general merchant who deals mainly in Petroleum products. The parties are in court because of the Defendant’s indebtedness to the Plaintiff arising out of two credit facilities granted to the Defendant on August 21, 2009.

To sum up the Plaintiff’s case as captured in his statement of claim filed on 4/11/11, it extended a Loan and Over Draft facilities to the tune of GH¢150,000.00 and GH¢ 250,000.00 respectively to the Defendant on August 21, 2009 upon terms. The Defendant accepted the terms of these credit facilities but defaulted in repayment. On March 24, 2010, the overdraft facility was renewed at the request of the Defendant. His overdrawn position of GH¢95,000 was converted and consolidated with the existing loan to an amount of GH¢245,000.00. His total indebtedness then stood at GH¢495,500.00. It was the Plaintiff’s case that the parties agreed on several repayment terms but the Def…

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