STANBIC BANK GHANA LIMITED
V.
EMMANUEL ADDO

(2014) JELR 69485 (HC)    
High Court  ·  SUIT NO.BFS/9/13 ·  30 Oct 2014 ·  Ghana
CORAM
NGELINA MENSAH-HOMIAH (MRS.) JUSTICE OF THE HIGH COURT
Core Terms Beta
defendant
interest
plaintiff
term loan
evidence
plaintiff bank
plaintiff’s representative
facility letter
bank’s base rate
interest rate
monthly payments of gh
exhibit b
interest overcharge
rate of interest
d facility
agreed interest
cross-examination
defendant interest
defendant’s overdraft account
defendant’s version
evidence of this fact
last business day of each month
outstanding balance
outstanding overdraft of the defendant
statement of account
such sum
agreed rates of interest
applicable rate of interest
b. exhibit a
borrower fail
conduct of the plaintiff bank
course of time
d balance
d facilities
draft facility
effective date
enhanced o
evidence of the plaintiff
evidence shows
exhibit a
following issues
outstanding o
plaintiff’s base rate
plaintiff’s case
plaintiff’s exhibits
public notice
record shows
sake of consistency
statement of claim
time interest

JUDGMENT

This is an action by the Plaintiff Bank to recover the outstanding balance of an over draft facility (O/D) of Forty-Five Thousand Ghana Cedis (GH¢45,000.00) which was granted to the Defendant in the year 2007.

In its statement of claim filed on 28/09/2012, the Plaintiff averred that it initially advanced a term loan of Thirty Thousand Ghana Cedis (GH¢ 30,000.00) together with the O/D but the term loan was paid off in the course of time. The amount which remained unpaid on the enhanced O/D stood at Eighty- Five Thousand, Two hundred and Forty-Two Ghana Cedis, Fifty-Four Pesewas (GH¢85,242.54) as at 06/08/2012.

It is also the Plaintiff’s case that by a facility letter dated 18/01/2011, the outstanding balance on the O/D in the sum of Ninety Thousand, Seven Hundred and Thirty-One Ghana Cedis, and Thirty-Two Pesewas was converted into a loan. Per this facility letter, any sum which was due but remained unpaid attracted an interest of 10% above the Plaintiff’s base rate prevailing fr…

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