FIRST ATLANTIC BANK LTD vs. SEFOS & SONS LTD & ANOR

On 10th April, 2014 the Plaintiff instituted the present action against the Defendant herein seeking the following reliefs: a. The payment of One Hundred and Twenty-One Thousand, Three Hundred and Sixty Ghana Cedis, Twenty Pesewas (GHC121,360.20) being the amount outstanding in respect of the facilities granted to the 1st Defendant. b. Interest on the said sum upon the terms of the facilities, from 14th March, 2014 till date of final payment. c. In addition to or in the alternative, an order for judicial sale of 2nd Defendant's property contained in Deed of Mortgage. d. Costs. The facts of the case are that on 5th August, 2004 the Plaintiff granted a loan facility of Fifteen Thousand Ghana Cedis (GHC15, 000.00) to the 1st Defendant. The 1st Defendant used property H/NO. PLOT 15 BLOCK 'X', GYINYASE, KUMASI as security for the loan. The said property belongs to the 2nd Defendant. The title deed of the property was lodged with the Plaintiff Bank. The 2nd Defendant subsequently comm...