UNIVERSAL MERCHANT BANK LTD. vs. AKOSOMBO TEXTILES LIMITED

Plaintiff claims the following reliefs endorsed on its writ issued against the defendant i. Recovery of the sum of Ghc2,092,984.85 (Two Million, Ninety two Thousand, Nine Hundred and eighty-Four Ghana cedis, Eighty-Five Pesewas) ii. Interest the sum of Ghc2,092,984.85 at the rate of 5% per annum above the prevailing base rate of the Plaintiff from 31st July, 2014 till date of final judgment. iii. Recovery of the sum US$1,104,732.94 (One Million, One Hundred and Four Thousand Seven Hundred and Thirty-Two United States Dollars, Ninety-Four Cents) or its cedi equivalent. iv. Interest on the sum of US$1,104,732.94 at the rate of 12% per annum from 31st July, 2014 till date of final payment v. Judicial sale of the mortgage/charged properties in satisfaction of the judgment debt In the statement of claim that accompanied the writ, plaintiff claims that it disbursed a number of loan facilities to the defendant and as defendant could not meet up with the repayments schedules the loans w...