AGRICULTURAL DEVELOPMENT BANK (ADB) vs PALM ACRES LIMITED & 2 ORS

JUDGMENT On the 9th day of May, 2012 the Plaintiff issued a writ against the Defendants herein praying for the following reliefs among others. i) Recovery of an amount of One Hundred and Fifty Thousand, Eight Hundred and Ninety Six Ghana Cedis, Fifty Three Pesewas (GHȼ150, 896.53) being the balance outstanding on the credit facility extended to the Defendants inclusive of interest as at 31st March, 2012 ii) Interest on the outstanding amount of One Hundred and Fifty Thousand, Eight Hundred and Ninety Six Ghana Cedis, Fifty Three Pesewas (GHȼ150, 895.53) at the prevailing commercial rate from 1st April, 2012. Or in the alternative iii) An order for the judicial sale of the property used to secure the facility. The Plaintiff avers that it is a financial institution established under the laws of Ghana to engage in the business of banking whilst the 1st Defendant is described as a limited liability company and a customer of Plaintiff. It is the case of the Plaintiff that in Sep.....