NDK FINANCIAL SERVICES LIMITED vs. KORASE LIMITED, DR. KWASI AUGUSTINE ADDAI AND SAMUEL KWADWO YEBOAH

The Plaintiff is a body corporate registered under the laws of Ghana and engaged in the business of providing loans and general financial and investment services. The 1st Defendant is a Limited Liability Company registered under the laws of Ghana and operates as a firm of civil engineers and building contractors. The 2nd and the 3rd Defendants are directors of the 1st Defendant Company and are said to have acted in a joint and several capacity as guarantors for the repayment of a loan advanced to the 1st Defendant by the Plaintiff. The Plaintiff avers that by a letter dated the 28th of December, 2012, the 1st Defendant applied to Plaintiff for a loan facility of One Hundred and Sixty Thousand Ghana Cedis (GH¢160,000.00) to enable the 1st Defendant undertake a contract it had been awarded by the Department of Feeder Roads to construct a bridge (hereafter referred to as the Bridge Project) at Kwahu Bepong in the Eastern Region. The said facility was approved by Plaintiff on 18th day o....