EXPORT-IMPORT BANK OF THE UNITED STATES OF AMERICA (USA) vs. BIBIANI LOGGING & LUMBER CO. LTD., JOYCE WIREKO BROBBEY AND BENJAMIN KWASI KUFOUR

TORKORNOO (MRS), J.A. The Plaintiff Respondent (hereinafter referred to as Respondent) commenced this action by an attorney Mrs. Claris Efa Quayson. The Respondent’s case against the Defendants/Appellants was that the 1st Appellant had obtained a credit facility of US$901,765 from First International Bank of United States of America. They had failed to honor their repayment obligations and as guarantor to the lender on the debts, the Plaintiff had been called to pay the debt of principal with interest. It had paid the said debt to First International Bank and was now seeking reimbursement from the Appellants. Its case was that the 2nd and 3rd Appellants had executed unconditional guarantees to pay the 1st Appellant’s debts and also executed promissory notes to that effect. The Respondent claimed for: 1. The total sum of One million, Six Hundred and Twenty Two Thousand, Seven Hundred and Thirty-Two United States Dollars (US$1,622,732.00) being the outstanding amount and unpaid b...