[2023]DLHC15120 • February 16, 2023 • High Court
THE SEED FUNDS vs. ABASS HARUNA APPIAH & ANOR
The Applicant, a Savings and Loans Company, extended a credit facility of GH¢945,000.00 to the 1st Respondent, secured by a mortgage over a five-bedroom detached house at Buena Vista Homes, Accra, and guaranteed by the 2nd Respondent. The 1st Respondent defaulted on repayments, accruing a debt of GH¢1,270,090.37 as of April 2018. The Applicant sought possession and sale of the mortgaged property to recover the debt, with police assistance if necessary. The Respondents opposed, disputing default and procedural compliance, including notice of default and validity of collateral registration.
read moreThe Applicant herein on 23rd December, 2020 filed the instant originating motion on notice for the following reliefs a. An order to possess and realise by sale, the property used by the Respondents/Borrowers as security for the credit facility extended, being a five-bedroom, 2 storey detached house, situate at house number 9MD Buena Vista Homes, Marine Drive Development at Sakumono Accra, in the Greater Accra Region of the Republic of Ghana. b. An order for Police assistance to possess the charge property mentioned in “a” above. c. Cost in this application. d. Any other order (s) that this Honourable Court may deem fit. The motion is supported by affidavit and exhibits. I hereby reproduce the relevant paragraphs of the affidavit in support in this delivery. 3. That the Applicant is a Savings and Loans Company, incorporated and operating under the laws of the Republic of Ghana and engaged in the business of financial intermediation, including the lending of money to its c...