ECOBANK GHANA LTD vs. UHURU PLANT HIRE LTD AND EMMANUEL QUA-ENOO

On or about July 2012 and at the request of the 1st defendant, a Plant Hire company, the plaintiff a Bank says it granted 1st defendant a short term loan of USD500,000.00 by a facility letter dated 31st July 2012[ exhibit A] In February 2013 and at the request of the 1st defendant again, the plaintiff says the short term loan granted the 1st defendant which had not then been retired, was restructured into a Medium Term Loan, whose terms and conditions were contained in a facility letter dated 11th February 2013 [exhibit B] By the terms of exhibit B the plaintiff says the 1st defendant enjoyed a moratorium of 6 months on the repayment of the principal sum from the date of restructure and thereafter the 1st defendant was to liquidate the debt in 30 equal monthly instalments made up of the principal and interest. As security for the facility the 1st defendant according to the plaintiff charged all its assets to the plaintiff[ exhibit C] and as further security the 2nd defendant exec...