[2018]DLHC3729 • March 28, 2018 • High Court
FIDELITY BANK GHANA LIMITED vs. ANITA ASARE & ORS.11
The Plaintiff bank extended a loan of GHC 150,000.00 to the 1st Defendant on 12 June 2014 for 24 months at 35% per annum, guaranteed by the 2nd and 3rd Defendants and secured by the 1st Defendant's property (Plot 32 Block L, Nhyiaeso, Kumasi). The 1st Defendant defaulted on repayment, allegedly due to destruction of her business stock by fire. The Plaintiff seeks recovery of GHC 153,936.73 plus interest or alternatively judicial sale of the mortgaged property.
read moreIn this action, the Plaintiff bank seeks the following reliefs against the Defendants as principal debtor and guarantors respectively: 1. An order for the recovery of the sum of One hundred and Fifty Three Thousand Nine Hundred and Thirty Six Ghana Cedis (GHC 153,936.73) being the total indebtedness of the 1st defendant from the loan facility granted by the Plaintiff Bank. 2. Interest on the said sum at the prevailing bank rate from 2nd day of March, 2016 till date of final payment. ALTERNATIVELY, i. An order for the judicial sale of Plot Number 32 Block L, Nhyiaeso, Kumasi. 3. Cost including Solicitor’s fee. THE PLAINTIFF'S CASE. The Plaintiff’s case is simple and straightforward, on 12th June, 2014, a loan of GHC 150,000.00 was extended to the 1st Defendant upon her request, for a period of 24 months at an interest rate of 35% per annum. The facility was guaranteed by the 2nd and 3rd Defendants. The 1st Defendant also secured the loan with her property numbered plot 32 Blo...