UNIVERSAL MERCHANT BANK LIMITED vs. MENZBEK LIMITED

JUDGMENT The present Motion seeks Summary Judgement against the Defendant in respect of the reliefs endorsed on the Plaintiff’s “Re-amended Writ” in terms of Order 14 of the High Court Civil Procedure Rules, 2004 (CI 47). By its “Re-amended Writ and Statement of claim” filed on the 30th of December, 2022, the Plaintiff seeks the following reliefs against the Defendant; a) The principal sum of One million and Four Thousand, Nine Hundred and Ninety -Eight Ghana cedis and Seventy pesewas (GH¢ 1,004,998.70) b) Accrued interest on the facility, which presently stands at Three Million, Six Hundred and Thirty-One Thousand, One Hundred and Forty- Two Ghana Cedis and Twenty–Four pesewas (GH¢ 3,631,142.24) as at 31st May, 2022 calculated on 31% and continuing to date of final payment . c) Penal Interest charges (interest rate plus a margin of 10%) as per the terms on the balance outstanding to date of final payment. d) An order specifying the time within which the judgm...