JUDGMENT
The jurisdiction of this court has been invoked by the Plaintiff bank to determine whether or not they are entitled to recover monies unpaid by the Defendant arising out of a loan facility contract and additionally monies allegedly inadvertently paid to the Defendant by the Plaintiff bank. Thus per a Writ of Summons taken out of the Registry of the High Court, Commercial Court Division dated 17th December, 2021 the plaintiff seeks the following specific reliefs against the Defendant.
a. The recovery of the sum of Four Hundred and Seventy-Three Thousand, Eight Hundred and Sixty-Two Ghana Cedis, Seventy-Nine Pesewas (GH¢ 473,862.79) being outstanding balance on Term Loan of Fifty Thousand Ghana Cedis granted the Defendant on 26th March, 2012.
b. Interest on GH¢ 473,862.79 at the contractual default compound interest rate of 36% from 1st October 2021 to date of final payment.
c. The recovery of Four Hundred and Fifty-Five Thousand, Five Hundred and Ninety-Eight Ghana Cedis, Ele…