BANK OF AFRICA GHANA LIMITED vs. LOUIS ASOMANING-BIMPONG

On September 5, 2016, the Plaintiff caused a Writ of Summons accompanied by a Statement of Claim to be issued against the Defendant for the following reliefs: (a) An Order for then recovery of GH¢87,204.26 being the total indebtedness of the Defendant to the Plaintiff as at August 15th 2016. (b) Interest on the said sum at the actual interest rate of 24.95 percent per annum from 16th August 2016, till date of final payment. (c) Penal interest on the said sum at the agreed penal rate of 6 percent per annum from 16th August 2016 till date of final payment. (d) Costs on a full indemnity basis. According to the Plaintiff, as can be gathered from its pleadings, it was compelled to sue the Defendant because he failed to pay off a facility of Forty-six Thousand One Hundred Ghana Cedis which the Plaintiff advanced to it on 1st June 2012, which loan expired on 2nd July 2016. According to the Plaintiff, the Defendant had failed so to do in spite of several demands made on it such that a....