THE ROYAL BANK vs. HANDIMAN SERVICES LIMITED & 2 OTHERS

1.0 Introduction 1.1 Plaintiff and 1st defendant are duly registered limited liability companies doing business in Ghana; plaintiff is engaged in banking, whilst 1st defendant is in construction, import and export of general goods, and that 2nd and 3rd defendants are its directors. Pursuant to application for overdraft facility by 1st defendant, acting by its directors, i.e. the other two defendants, the plaintiff bank, subject to agreed terms granted and made available GH¢500,000 to 1st defendant to improve on its working capital. According to plaintiff, 1st defendant had failed to abide by the terms in repaying the sum granted under the facility, and that their nonresponse to demand notices had compelled it to issue the writ of summons against defendants jointly and severally for reliefs as endorsed on the writ: a [R]ecovery of the sum of Five Hundred and Fifty Eight Thousand, Two Hundred and Seventy Eight Ghana Cedis and Fifty Six pesewas (GH¢558,278.56). b Interest on .....