BANQUE SAHELO-SAHARRIENNE POUR L’IN VETSMENT ET LE COMMERCE (GH) LTD vs. PHEEBE’S COMPANY LIMITED, PHILIP ACQUAH, BARBARA WARD ACQUAH, EMMANUEL KOOMSON AND SEBASTIAN ZIGA

By an amended writ of summons the plaintiff claims against the defendants: a. ‘Payment of the sum of GH₵775,059.49 being the outstanding sum in respect of credit facility granted 1st defendant by plaintiff. b. Interest on the said sum compounded at the approved rate of 35.5% plus a margin of 125 per annum from the 1st day of August, 2012 till date of final payment. c. An order for the judicial sale of the mortgaged property being a parcel of land measuring 13.66 situate at East Peduase, Dodowa in the Dangbe West district of the Greater Accra Region. d. Costs.’ After the service of the writ and its accompanying statement of claim on the defendants, an appearance was entered followed by a statement of defence. Pre-trial settlement of the case was not successful hence; the matter was referred to trial. Before trial could commence however, the defendants discontinued the third-party action against the third party, that is, the Attorney General. The action was therefore heard bet...