DANGME RURAL BANK LTD. vs. GALLYWOOD FILM VILLAGE [2016]DLHC9053

Date	2016-06-14
Suit No.	SUIT NO. BFS/302/14
Citation No.	[2016]DLHC9053

LADYSHIP JUSTICE JENNIFER ABENA DADZIE

MARTIN MIREKU ESQ. OF ABORIGINES LEGAL CONSULT COUNSEL FOR PLAINTIFF

THOMAS ACQUAH ESQ. OF LAW TEMPLE COUNSEL FOR DEFENDANT

[2016]DLHC9053
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													<main id="main" class="content" style="min-height: 60rem" >DANGME RURAL BANK LTD.<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>GALLYWOOD FILM VILLAGE<o:p></o:p>(DEFENDANT)<o:p></o:p>[HIGH COURT, ACCRA]<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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</div>COUNSEL:<o:p></o:p>MARTIN MIREKU,
ESQ., OF ABORIGINES LEGAL CONSULT, COUNSEL FOR PLAINTIFF<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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THOMAS ACQUAH, ESQ., OF LAW TEMPLE,
COUNSEL FOR DEFENDANT<o:p></o:p>

</div>CORAM: <o:p></o:p>LADYSHIP
JUSTICE JENNIFER ABENA DADZIE<o:p></o:p><div style="mso-element:para-border-div;border-top:solid windowtext 1.5pt;
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<p class="MsoNormal" align="center" style="margin-bottom:0cm;margin-bottom:.0001pt;
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mso-border-bottom-alt:solid windowtext 1.5pt;padding:0cm;mso-padding-alt:1.0pt 0cm 1.0pt 0cm">JUDGMENT<o:p></o:p>

</div><o:p>&nbsp;</o:p>The Plaintiff is a limited liability company, duly
registered under the laws of the Republic of Ghana and authorized by the Bank
of Ghana to provide universal banking services.&nbsp;
The Defendant, a customer of the Plaintiff bank, is also a company
limited by guarantee and incorporated under the laws of Ghana to engage in film
production.<o:p></o:p><o:p>&nbsp;</o:p>In the Plaintiff’s statement of claim,
as amended, the Plaintiff claims against the Defendant the following reliefs:<o:p></o:p>&nbsp;&nbsp;&nbsp;
“a)&nbsp;&nbsp; The recovery of an amount of GH¢409,681.56 inclusive of interest
from the Defendant being the total outstanding balance on two credit facilities
of GH¢250,000.00 and GH¢20,000.00 granted to Defendant by Plaintiff in May,
2012 and November 2012 respectively as financial support for the completion of
Defendant’s school building project the repayment of which have long expired but
Defendant has failed and refused to do so despite repeated demands by
Plaintiff.<o:p></o:p><p class="MsoNormalCxSpMiddle" style="margin-top:0cm;margin-right:36.0pt;
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tab-stops:36.0pt">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest
on the total outstanding balance of GH¢409,681.56 calculated at 30% per annum
from August 2014 till date of final payment.<o:p></o:p><p class="MsoNormalCxSpMiddle" style="margin-top:0cm;margin-right:36.0pt;
margin-bottom:0cm;margin-left:54.0pt;margin-bottom:.0001pt;mso-add-space:auto;
text-align:justify;text-indent:-18.0pt;line-height:115%;mso-list:l0 level1 lfo3;
tab-stops:36.0pt">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Cost
inclusive of Counsel’s fees.”<o:p></o:p><o:p>&nbsp;</o:p>The material facts which gave
rise to the matter before me are stated in Plaintiff’s amended statement of
claim and supported by the documentary evidence adduced by the Plaintiff in
support of its case.&nbsp; It is the case of
the Plaintiff bank that it advanced an overdraft facility in the amount of
GH¢250,000.00 to the Defendant on or about May, 2012 at the request of the
Defendant to assist Defendant complete its school project (hereinafter referred
to as the “Overdraft Facility”).&nbsp; The
Overdraft Facility was to attract an agreed interest rate of 30% per annum and
was to be fully repaid within twelve (12</main>