DANGME RURAL BANK LTD. vs. GALLYWOOD FILM VILLAGE

The Plaintiff is a limited liability company, duly registered under the laws of the Republic of Ghana and authorized by the Bank of Ghana to provide universal banking services. The Defendant, a customer of the Plaintiff bank, is also a company limited by guarantee and incorporated under the laws of Ghana to engage in film production. In the Plaintiff’s statement of claim, as amended, the Plaintiff claims against the Defendant the following reliefs: “a) The recovery of an amount of GH¢409,681.56 inclusive of interest from the Defendant being the total outstanding balance on two credit facilities of GH¢250,000.00 and GH¢20,000.00 granted to Defendant by Plaintiff in May, 2012 and November 2012 respectively as financial support for the completion of Defendant’s school building project the repayment of which have long expired but Defendant has failed and refused to do so despite repeated demands by Plaintiff. b) Interest on the total outstanding balance of GH¢409,681.56...