BANK OF AFRICA (GHANA) LTD. vs. MAGNA INTERNATIONAL COMPANY LTD. , SAMUEL BANNERMAN, JAMES ARYEETEY AND ABBEY TEI MENSAH

The 1st Defendant in this case, referred to herein as “Applicant”, brings this application on notice for an Order to set aside the Writ of Summons and Statement of Claim issued by the Plaintiff, also referred to hereinafter as “Respondent” under the inherent jurisdiction of the Court. Per the Writ of Summons issued on January 31, 2018, Respondent seeks the following reliefs: “a. The recovery of the sum of Six Million, Six Hundred and Sixty-One Thousand, Six Hundred and Four Ghana Cedis and Forty Pesewas (GH¢6,661,604.40) being the outstanding balance on the facilities as at October 1, 2016, which said amount is due and owing to Plaintiff by the Defendants and which amount the Defendants have failed and/or refused to pay to Plaintiff in spite of several and repeated demands made therefore. b. Interest on the said amount at the agreed rate of 27% per annum from October 1, 2016 until date of final payment. c. Penal interest of 6% per month from September 25, 2013 until date ...