UNIVERSAL MERCHANTS BANK LTD vs. DANADAMS PHARMACEUTICALS AND DR YAW ADU GYAMFI

In this application, the Defendants/Applicants (hereinafter called “Applicants”) seek an order of this court granting them leave to amend their statement of defence filed with the Registry of this court on July 4, 2016 pursuant to Orders 16 rule 5(1)(b) and 11(1) and (2) of the High Court (Civil Procedure) Rules, 2004 (C.I 47) on the basis that they had omitted to plead certain facts which are material to their defence and ultimately to include a counterclaim. The backdrop to this application is that on May 13, 2016, the Plaintiff/Respondent, hereafter referred to as “Respondent” caused a Writ of Summons to be issued against the Applicants claiming the following reliefs: a. Recovery of the sum of US$4,673,960.84. b. Interest at the contractual rate 10% on the said sum of US$4,673,960.84 from 21st January, 2016 to the date of full and final payment. In the alternative; c. An order for the judicial sale of the following; i. The mortgaged property situate at Plot no 690, Blo...