FRANSTEL LIMITED vs. MERCHANT BANK LIMITED

The Plaintiff Company commenced the instant action against the Defendant Bank on 03/10/06. By its amended writ of summons and statement of claim filed on 31/10/13, the Plaintiff claimed five reliefs, namely: a. An order for recovery of cash the sum of four hundred and fifty million cedis ( ¢450,000,000.00) being monies the defendant demanded from the Plaintiff as a deposit for the opening of Letters of Credit for the Plaintiff for importation of sugar. b. Interest on all monies payable to the Plaintiff at the prevailing bank rate from 1st December, 2004 to date of final payment. c. Damages for breach of contract d. Cash the sum of GH¢916, 976.02 being anticipated profit lost by the Plaintiff as a result of the defendant's breach of the contract to open Letters of Credit for the Plaintiff. e. Cash the sum of $90,000.00 representing 3% of the contract sum of $3,000,000.00 the Plaintiff forfeited to Zar Limited as a result of the abrogation of that contract, which abrogation was o.....