AGRICULTURAL DEVELOPMENT BANK LTD. vs. RENAIZANCE SUPPLY CHAIN LTD., CHARLES SENYO YOUNG AND KENNETH KPEDOR

On June 28, 2016, this Court granted the application on notice for mandatory injunction filed by the Plaintiff/Applicant (hereinafter, the “Plaintiff”) and reserved its reasons for today, which I proceed to give. [1] PROCEDURAL BACKGROUND 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 in the Greater Accra Region of the Republic of Ghana. On 5th August, 2015, the Plaintiff took out a writ of summons at the registry of this court claiming the following reliefs against the Defendants: i. Recovery of the sum of GH¢3,385,156.71 (Three Million, Three Hundred and Eighty-five Thousand, One Hundred and Fifty-six Ghana Cedis Seventy-one Pesewas) against the Defendants jointly and severally. ii. Interest on the said sum of GH¢3,385,156.71 (Three Million, Three Hundred and Eighty-five Thousand, One Hundred and Fifty-six Ghana Cedis Seventy-one Pesewas) from 3rd August, ...