[1997]DLSC16017 • March 26, 1997 • Supreme Court •
BARCLAYS BANK (GHANA) LTD vs SAKARI
The plaintiff bank extended loan facilities to the defendant in 1981 for the purchase of two Mercedes Benz trucks and spare parts. The defendant instead purchased a Saurer tanker, which was seized by the government in 1982 due to restrictions on private ownership. The defendant argued that the seizure frustrated the contract and discharged his repayment obligations. The bank claimed outstanding debts including penalties and interest. The defendant disputed penalties and claimed frustration of contract due to seizure of the vehicle.
read moreAcquah JSC delivered the first judgment at the invitation of Charles Hayfron-Benjamin JSc. This is an appeal against the majority decision of the Court of Appeal affirming, with some variations, the judgment of the High Court, Tamale in an action by the Barclays Bank (Ghana) Ltd against the defendant for the sum of ¢21,663,153.59 together with 30 per cent interest from 10 August 1989 to the date of judgment or payment. The case of the bank is that at the request of the defendant, then a good customer of theirs, they extended loan facilities to him in 1981 and that as at 10 August 1989, the outstanding balance on the loan together with interest stood at: Farm No AlC ¢5,675,000.91 Loan AlC No I ¢6,982,113.20 Food Supply AlC ¢9,006,039.48 They allege that after repeated demands the defendant had not settled these debts. Hence the writ. In his amended statement of d...