FELIBAT COLDSTORE LIMITED vs. STANBIC BANK GHANA LIMITED

DOTSE JSC:- PREFACE This court, on the 6th day of July 2022, by a unanimous decision dismissed the appeal filed by the Plaintiffs against the Court of Appeal judgment dated 29th May 2022 save the ground of appeal against costs which we sustained. We hereby proceed to give reasons for our said decision. FACTS The facts giving rise to this present appeal are that the Plaintiff/Respondent/Appellant (hereinafter referred to as Plaintiff previously a customer of Defendant/Appellant/Respondent, (hereinafter referred to as Defendant) Bank obtained a loan facility from the Defendant. The Plaintiff has averred in its statement of claim that it was unable to fulfill its repayment obligations to the Defendant Bank due to some challenges. By a letter dated 30th November 2010, the Plaintiff admitted its indebtedness of GH¢481,922.78 to the Defendant and proposed a re-scheduling of the loan facility. The Plaintiff’s proposal was as follows: “We wish to apply for a re-scheduling of the fa...