WOMEN’S WORLD BANKING GHANA vs. VICTORIA ASOWAH & ANOR

This is a Bank Debt Recovery case in which the Plaintiff seeks to recover an amount of GH¢30,000.00 from the Defendants together with interest from 13/11/2013 till date of final payment. The sole issue for determination is whether or not the Plaintiff is entitled to the reliefs endorsed on the writ of summons. The Plaintiff’s case as captured from its statement of claim filed on 06/05/2014 is as follows: Upon the request of the 1st Defendant, the Plaintiff granted a loan of GH¢30,000.00 to her payable within twelve months; at an interest rate of 45.06% per annum. The monthly installment payment is GH¢3, 940.00 The 1st Defendant secured the loan with a guarantee fund, household assets, future sales and stock. She further assigned her interest in stock and household assets to the Plain tiff during the period of the facility. The 2nd Defendant also guaranteed the repayment of the loan by executing a contract of guarantee dated 13/09/2013. The 1st Defendant failed to keep up on the...