BROADVIEW CAPITAL vs. BIGMA ENTERPRISE AND ANOTHER

The Plaintiff took out a Writ of Summons suing the Defendants for the following reliefs: a. The repayment of the sum of One Hundred and Five Thousand One Hundred and Nineteen Ghana Cedis and Sixteen Pesewas (GH¢105,119.16) being the sum outstanding on the loan facility as at October, 2014. b. Interest on the sum at the sum of One Hundred and Five Thousand One Hundred and Nineteen Ghana Cedis and Sixteen Pesewas (GH¢105,119.16) at the agreed interest rate of 6% from October 2014 till date of final payment. c. Penal interest of 2% on the amount outstanding from October, 2014 till date of final payment. d. Costs including legal fees of 10% of the amount claimed. The Plaintiff, a Financial Institution incorporated under the laws of our Republic contends that it advanced a loan facility of One Hundred and Fifty Ghana Cedis (GH¢150,000.00) on August 12, 2013 to the 1st Defendant, a general merchant company for the purchase of goods to supply its various customers. It ave...