[2025]DLHC18410 • January 15, 2025 • High Court
AGRICULTURAL DEVELOPMENT BANK vs. LILYGOLD ENERGY RESOURCE LTD & MOHAMMED A. BAANTIMA
The Plaintiff, Agricultural Development Bank, granted a loan facility of GHS5,000,000.00 to the 1st Defendant, Lilygold Energy Resource Ltd, for procuring stocks of refined petroleum products for sale. The 2nd Defendant, Mohammed A. Baantima, is a director of the 1st Defendant and undertook repayment obligations. The 1st Defendant failed to repay the loan and accrued interest, resulting in an outstanding balance of GHS5,152,362.29 as of 31 January 2022. Despite notifications and assurances, the Defendants did not liquidate the debt.
read moreTitle: AGRICULTURAL DEVELOPMENT BANK vs. LILYGOLD ENERGY RESOURCE LTD & MOHAMMED A. BAANTIMA Date: 2025-01-15 Region: Greater Accra Court: High Court(High Court) Judges: ["416"] Lawyers: ["54","59","58","57","56","55"] ___________ DENNISLAW ONLINE REPORT www.dennislawgh.com AGRICULTURAL DEVELOPMENT BANK(PLAINTIFF)vs.LILYGOLD ENERGY RESOURCE LTD & MOHAMMED A. BAANTIMA(DEFENDANTS)[HIGH COURT, ACCRA] SUIT NO. CM/BFS/0353/2022 DATE: 15TH JANUARY, 2025COUNSELEDWARD SAMUEL CRABBE ESQ., FOR PLAINTIFF WITH KWADWO ANTWI TABI ESQ., QUEENSTA MAAME DORKENOO ESQ., REGINA EWENAM AKORTAH ESQ., AND AUNTIE DEDE BLANKSON ESQ.SULE SAMBIAN ESQ., FOR DEFENDANTS CORAMHER LADYSHIP ADELAIDE ABUI KEDDEY J.JUDGMENTThe Plaintiff is a corporate body registered under the laws of Ghana and engages in the business of banking.The 1st Defendan...