GROFIN AFRICAN FUND (GH) LTD. AND HOPE CAPITAL LIMITED vs. COLLBOY ENTERPRISES LTD., PAUL AGYEMAN DUAH AND GRACE AGYEMAN DUAH

B. ACKAH-YENSU, JA INTRODUCTION This appeal basically calls for a determination as to whether or not the trial Judge was right in his interpretation of the purpose of the Borrowers and Lenders Act, 2008 (Act 773). The appeal is against the judgment of the High Court (Commercial Division), Accra, delivered on 9th May 2018, in which the court below entered judgment in favour of the Applicant/Respondent herein. In the said judgment, the trial Court ordered that the Applicant/Respondent take possession of the property No. 67 (Sector F), Gbawe, North Accra, pursuant to the said Act 773. We shall, in this judgment refer to the Applicant/Respondent simply as “Respondent”, and the 1st, 2nd and 3rd Respondents/Appellants simply as “1st, 2nd and 3rd Appellants”. BACKGROUND FACTS On or about the 14th of May 2012, 1st Appellant applied for and was granted a term loan to augment its working capital in the sum of GH¢215,000.00 at an agreed interest rate of 24.25% per annum for a t...