BANK OF AFRICA GHANA LTD vs. ALUKINGS SYSTEMS LTD & 2ORS

RULING On or about the 18th January, 2021, the Plaintiff herein, a limited liability company engaged in the business of banking issued out a Writ of Summons against the three Defendants herein praying for the following reliefs; a. Recovery of the sum of GH¢ 267, 011.22 being the outstanding balance as at 17th June, 2020 on the overdraft facility granted by Plaintiff to 1st Defendant on the latter’s request b. Interest on the said amount at the rate of forty percent (40%) per annum (inclusive of penal interest of 6% and a default charge of two (2%) from 18th June, 2020 to the date of final payment c. Costs Now, I will quote some pertinent paragraphs in the accompanying Statement of Claim which sort of incriminate the 3rd Defendant/Applicant in this suit in order to situate the application in its rightful perception. The said paragraphs are 3, 7, 9, and 9 thus; “3. The 2nd and 3rd Defendants are Directors of the 1st Defendant Company and guarantors of a facility granted ...