BOND SAVINGS AND LOANS LTD. vs. ZEKIEL HOMES LTD. & ANOTHER

This is an application by Plaintiff/Applicant (hereinafter Applicant) for an Order for a Warrant to take Possession of a residential estate situate at Adjiringanor and a 2.5 acre parcel of land situate at Burma Hills, La Dadekotopon, in Accra belonging to the Defendants/Respondents herein (hereinafter, Respondents) pursuant to S.34 (2) of the Borrowers and Lender’s Act, 2008, Act 773 (hereinafter, Act 773), on the grounds of the Respondents default in their repayment obligations arising from the loan agreement entered into by the parties herein. I have read the application, the supporting Affidavit and examined the various exhibits placed in evidence by the parties. Detailed in the Affidavit accompanying the motion paper are the facts, which, according to the Applicant, gave rise to the instant application. It is the case of the Applicant per Exhibit EN1 that on or about July 16, 2014, the 1st Defendant/Respondent took a loan facility of Two million, Seven Hundred and Twenty Thous.....