NYANKOMASI AHENKRO RURAL BANK (PER THE MANAGER) vs. NANA YAW

OFOE, J.A. The plaintiff went before the Cape Coast high court claiming as follows: “ a. A declaration that the defendant is indebted to the plaintiff bank to the tune of ¢12,823,359.00 representing the outstanding balance of a loan facility granted to defendant at his own request for which defendant has failed and/or neglected to settle despite repeated demands. b. An order compelling the defendant to pay to plaintiff bank cash the sum of ¢12,823,359.00 being the outstanding balance of the loan facility granted to defendant by plaintiff bank on 16/11/2000. c. Interest on the said sum at the current bank rate from 31/12/2001 to date of judgment” The defendant admitted owing ¢9,500,000.00 as at this 31st December 2001 and not ¢12,823,359.00 as claimed by the plaintiff. After trial the court found the defendant indebted to the defendant to the amount of ¢8,823,359.00 and ordered interest to be paid on this amount at the current bank rate from 31/12/01 to this day of judgm...