This appeal emanates from the judgment of the High court, Accra dated 27th April 2017.
The Background Facts
The facts are that the Plaintiff took out a writ of summons and statement of claim against the Defendant on 11th July 2014 for the following reliefs:
i. The recovery of Three Million, Five Hundred and Fourteen Thousand, Nine Hundred and Thirty-One Ghana cedis and Ninety-Three pesewas (GHȼ3,514,931.93) inclusive of interest being the outstanding balance on the said restructured loan facility granted by the Plaintiff to the Defendant which is due from the Defendant to the Plaintiff, and which remains unpaid despite several oral and written demands made to them for same.
ii. The interest on the amount of Three Million, Five Hundred and Fourteen Thousand, Nine Hundred and Thirty-One Ghana cedis and Ninety Three pesewas (GHȼ3,514,931.93) at the agreed base rate plus the agreed spread rate payable monthly in arrears and default rate before judgment and…