SG-GHANA LIMITED vs. MAUMESS FAIRPLAY LTD AND MAURICE MESSIBA ACCRA

The Plaintiff is a bank, duly registered under the laws of the Republic of Ghana. The 1st Defendant is a customer of the Plaintiff bank and has its registered office at La, in Accra, while the 2nd Defendant is the Managing Director of the 1st Defendant Company. In the Plaintiff’s statement of claim, the Plaintiff claims against the Defendants, jointly and severally, the following reliefs: “i. recovery of the sum of GH¢335,611.44 (Three Hundred and Thirty-Five Thousand, Six Hundred and Eleven Ghana Cedis, Forty-four Pesewas) ii. interest on the said sum of GH¢335,611.44 at the rate of 6% per annum above the prevailing bank rate on compounded basis against the Defendants; and iii. Judicial sale of the mortgage property in satisfaction of the judgment debt.” The material facts which gave rise to the matter before me are as follows. The Plaintiff bank advanced an overdraft facility and a loan facility to the Defendants on or about 18th December, 2012 totaling One ...