AGRICULTURAL DEVELOPMENT BANK
V.
AGYA ADU ENTERPRISE

(2016) JELR 107781 (HC)    
High Court  ·  SUIT NO. BC/113/2014 ·  29 Nov 2016 ·  Ghana
CORAM
PATIENCE MILLS-TETTEH (MRS.)
Core Terms Beta
defendants
plaintiff
2nd defendant
ghana cedis
plaintiff bank
terms
credit facility
interest rate
interest
1st defendant
exhibit
case of the plaintiff
date of final payment
laws of ghana
mr. theophilus akwetey
original contract
plaintiffs
statement of claim
sufficient evidence
variable interest rate
variation of the interest rate
2nd defendants
annual interest rate
civil actions
court costs
credit facilities
director of 1st defendant
document exhibit h
evidence act nrcd
head office
high seas
inception of this court action
initial contract
initial contract agreement
judicial sale of the mortgaged property
legal action
legal fees
legal mortgage
limited liability company
loan facility
mutual agreement
obligation of a party
open court
personal guarantee of 2nd defendant
plaintiff’s writ

JUDGMENT 

By the Plaintiff’s writ of summons and statement of claim dated 27/11/13 the plaintiff bank is claiming against the 1st and 2nd defendants a limited liability Company and its shareholder and Director  respectively, jointly and severally the following reliefs; 

1. An order directed at the defendants to pay to the plaintiffs the  sum of sixty-three thousand and two hundred and fifty-six Ghana  Cedis and fifty four pesewas, (GH¢63, 256.54) being the balance  outstanding as at September, 2013 on the credit facility granted  the 1st defendant by the plaintiff.

2. Interest on sixty-three thousand and two hundred and fifty-six  Ghana cedis and fifty four pesewas (GH¢63,256.54) from  September 2013 till the date of final payment or in the alternative  an order for the judicial sale of the mortgaged property described  in the mortgage deed dated 24/11/2004 in satisfaction of the  judgment debt. 

THE CASE OF THE PLAINTIFF 

The plaintiff is a financial institution licensed under the laws o…

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