The Plaintiff, a banking institution, issued a Writ of Summons and Statement of Claim against the Defendants on 5th April, 2016 seeking against them jointly and severally, the following reliefs:
1. Payment of the sum of GHC15,838,642.73 being the outstanding amount on the Facility granted to the 1st Defendant as at 19th November 2015; 2. Interest at a rate of 33.15% per annum on the principal amount from 19th November 2015 till the date of final payment; and 3. Legal costs incurred by the Plaintiff in instituting the action.
1st Defendant is a limited liability company incorporated under the laws of Ghana and a customer of the Plaintiff which is a company incorporated under the laws of Ghana and carrying on the business of banking. 2nd Defendant is a company incorporated under the Laws of Switzerland and a 100% shareholder of the 1st Defendant, according to the Pleadings. Following service of the Writ of Summons and Statement of Claim on them, Defendants Entered Appearance through their…