FIDELITY BANK GH LTD vs GIDEON AYIKU

On 19th February 2020, the Applicant filed a motion on notice before this Court. The motion is seeking an order for possession and realisation of the mortgaged property, situate at Plot No. 155, Agbogba, North Legon, Accra by judicial sale upon the grounds contained in the accompanying affidavit. The motion is supported by affidavit and exhibits. I wish to quote the relevant paragraphs of the affidavit in support in this ruling. 3. That in May, 2013, the Applicant granted the Respondent a Home Completion Mortgage Facility in the sum of Four Hundred Thousand United States Dollars (US$400,000.00) for a period of ten (10) years, at an interest rate of 13.66 percent per annum, and an agreed penal rate of five (5) percent per annum, per facility letter dated 6th May, 2013. A copy of the said facility letter is attached hereto and marked as exhibit UKE1 4. That the said Mortgage Facility was to enable the Respondent complete his three (3), two (2) storey, five (5) bedroom detached b...