STANBIC BANK GHANA LIMITED vs. EMMANUEL ADDO [2014]DLHC3892

Date	2014-10-30
Suit No.	SUIT NO.BFS/9/13
Citation No.	[2014]DLHC3892

NGELINA MENSAH-HOMIAH (MRS.) JUSTICE OF THE HIGH COURT

KAREN WOBIL FOR PLAINTIFF

WILLIAM KUSI FOR DEFENDANT

[2014]DLHC3892
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													<main id="main" class="content" style="min-height: 60rem" >STANBIC BANK GHANA
LIMITED<o:p></o:p>vs.<o:p></o:p>EMMANUEL ADDO<o:p></o:p>&nbsp;[HIGH COURT (COMMERCIAL
DIVISION), KUMASI]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

SUIT NO.BFS/9/13&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;DATE: 30TH OCTOBER, 2014<o:p></o:p>

</div>COUNSEL:&nbsp;&nbsp; <o:p></o:p>KAREN WOBIL FOR PLAINTIFF<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

ANGELINA
MENSAH-HOMIAH (MRS.)<span style="font-size:12.0pt;line-height:115%;
font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:&quot;Arial Unicode MS&quot;;
mso-bidi-font-family:&quot;Arial Unicode MS&quot;"> JUSTICE OF THE HIGH COURT<o:p></o:p>

</div><o:p>&nbsp;</o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
padding:0in 0in 1.0pt 0in">

</div><span style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:
&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:
EN-US">This is an action by the Plaintiff Bank to recover the outstanding
balance of an over draft facility (O/D) of Forty-Five Thousand Ghana Cedis (GH¢45,000.00)
which was granted to the Defendant in the year 2007.<o:p></o:p><span style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:
&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:
EN-US">In its statement of claim filed on 28/09/2012, the Plaintiff averred
that it initially advanced a term loan of Thirty Thousand Ghana Cedis &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(GH¢ 30,000.00) together with the O/D
but the term loan was paid off in the course of time. The amount which remained
unpaid on the enhanced O/D stood at Eighty- Five Thousand, Two hundred and
Forty-Two Ghana Cedis, Fifty-Four Pesewas (GH¢85,242.54) as at 06/08/2012.<o:p></o:p><span style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:
&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:
EN-US">It is also the Plaintiff’s case that by a facility letter dated 18/01/2011,
the outstanding balance on the O/D in the sum of Ninety Thousand, Seven Hundred
and Thirty-One Ghana Cedis, and Thirty-Two Pesewas was converted into a
loan.&nbsp; Per this facility letter, any sum
which was due but remained unpaid attracted an interest of 10% above the
Plaintiff’s base rate prevailing from time to time. &nbsp;<o:p></o:p><span style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:
&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:
EN-US">The facility was secured by a deed of mortgage dated 13/09/2007 which
was duly executed by the Defendant.&nbsp; <o:p></o:p><span style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:
&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:
EN-US">The Defendant’s version of these financial transactions as per his statement
of Defence filed on 7/11/2012 is that after he had paid off the loan, he was
granted an additional amount of forty Thousand Ghana Cedis (GH¢40,000.00) which
brought the O/D facility to Eighty-Five Thousand Ghana Cedis (GH¢85,000.00).
After signing the facility Letter dated 18/01/2011, the Defendant averred that
he discovered that the O/D balance was below the sum of Ninety Thousand, Seven
Hundred and Thirty-One Ghana Cedis, Thirty-Two Pesewas (GH¢90,731.32). He attributed
the difference to interest over charge of 29% and 30% instead of the agreed
23.5%. He caused his lawyers to notify the Plaintiff who agreed to refund the
over charges to him but this did not reflect in his statement of account.
Meanwhile, he stated that an agreement was reached whereby the Plaintiff allowed
him to make monthly payments of GH¢2,000.00.<o:p></o:p><span style="font-size:12.0pt;
line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:
&quot;Arial Unicode MS&quot;;mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:
EN-US">The Defendant pleaded fraud and gave particulars to that effect i.e.:<o:p></o:p><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;
mso-ansi-language:EN-US">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<span style="font-size:12.0pt;line-height:115%;
font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:&quot;Arial Unicode MS&quot;;
mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:EN-US">&nbsp;The Plaintiff deliberately over charging the
Defendant with an interest rate that was not agreed upon.<o:p></o:p><span style="font-size:12.0pt;line-height:115%;font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;
mso-fareast-font-family:&quot;Book Antiqua&quot;;mso-bidi-font-family:&quot;Book Antiqua&quot;;
mso-ansi-language:EN-US">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<span style="font-size:12.0pt;line-height:115%;
font-family:&quot;Book Antiqua&quot;,&quot;serif&quot;;mso-fareast-font-family:&quot;Arial Unicode MS&quot;;
mso-bidi-font-family:&quot;Arial Unicode MS&quot;;mso-ansi-language:EN-US">Inflating the
amount of money due to be paid by Defendant and further entering into an
agreement with him based on those figures.<o:p></o:p>