AGRICULTURAL DEVELOPMENT BANK vs. FORMOSA LIMITED & ANOTHER

The Plaintiff, a financial and banking institution duly registered under the laws of the Republic of Ghana, per the Amended Writ of Summons issued against the Defendants herein together with the Amended Statement of Claim filed with the Registry of this Court on May 16, 2016, claims the following reliefs against the Defendants jointly and severally as endorsed thereon: “(i) An order for the recovery of the amount of Six Hundred Seventy-eight Thousand and Fifty-four Ghana cedis and Seventy-nine pesewas (GH¢678,054.79) as at February 15, 2016, being the outstanding balance on the said facilities granted to the 1st defendant same indemnified by the 2nd defendant, and which is due from the defendants to the plaintiff, and which remains unpaid despite several oral and written demands made to the defendants for same; ii. Interest on the amount of Six Hundred Seventy-eight Thousand and Fifty-four Ghana cedis and Seventy-nine pesewas (GH¢678,054.79) from February 16, 2016 as agreed by th...