G.N. BANK GHANA LIMITED vs. MRS OLIVIA NTI KYEREMEH AND ANOTHER [2018]DLHC3979

Date	2018-10-26
Suit No.	SUIT NO.BFS 74/2015
Citation No.	[2018]DLHC3979

DR. RICHMOND OSEI-HWERE JUSTICE OF THE HIGH COURT

EMMANUEL AMOAH FOR THE PLAINTIFF

ASEIDU BASOAH FOR THE DEFENDANTS

[2018]DLHC3979
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													<main id="main" class="content" style="min-height: 60rem" >G.N. BANK GHANA LIMITED<o:p></o:p>vs.<o:p></o:p>MRS OLIVIA NTI KYEREMEH AND ANOTHER<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;
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SUIT&nbsp;NO.BFS 74/2015&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: 26TH OCTOBER, 2018<o:p></o:p>

</div>COUNSEL
<o:p></o:p>EMMANUEL AMOAH FOR THE PLAINTIFF<o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;text-align:
justify;line-height:115%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
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BASOAH FOR THE DEFENDANTS&nbsp; <o:p></o:p>

</div>CORAM: <o:p></o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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</div><o:p>&nbsp;</o:p><div style="mso-element:para-border-div;border:none;border-bottom:solid windowtext 1.5pt;
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<p class="MsoNormal" align="center" style="margin-bottom:0in;margin-bottom:.0001pt;
text-align:center;line-height:115%;border:none;mso-border-bottom-alt:solid windowtext 1.5pt;
padding:0in;mso-padding-alt:0in 0in 1.0pt 0in">JUDGMENT<o:p></o:p>

</div>On
the 8th of October, 2014 the Plaintiff instituted an action against
the 1st and 2nd Defendants jointly and severally for the following relief:<o:p></o:p>a.
Recovery of the sum of one hundred and sixty-three thousand eight hundred and
eighty-five Ghana cedis being outstanding balance on a restructured loan
facility granted to the defendant pursuant to a banking facility agreement
dated 31st October 2012;<o:p></o:p>b.
Interest on the sum at the contractual rate of 60% per annum from 15th June
2014 till date of final payment; and<o:p></o:p>c.
Alternatively, judicial sale of Plot No. 13 Block H, Agogo, Ashanti-Akim North
in the Ashanti region.<o:p></o:p>The Plaintiff’s Case<o:p></o:p>The
Plaintiff’s case is that it is a limited liability company registered under the
laws of Ghana to engage in the business of banking. It is the case that the
Defendant has been their client prior to 2010 and that in 2010, the 1st
defendant was granted an overdraft facility. As at 31st August 2012, the
overdraft balance stood at about GHC 79,054.00. The defendants aver that upon
the request of the first defendant, the overdraft facility was restructured
into a loan facility to be paid within a period of 24 months at an interest of
3.5% per month. According to the plaintiff, the Defendants’ home at Plot No. 13
Block H Agogo was used as collateral for the loan and the memorandum of the
title deeds was deposited with the Plaintiff as evidenced by Exhibit E.&nbsp; The plaintiff has also exhibited a loan
facility agreement which was entered between the parties. It is the plaintiff’s
case that the 1st defendant has refused to pay off the loan facility which as
at 15th June 2014 stood at GHC 163,885.00 and this includes the principal and
interest. Also, the 1st defendant has failed to abide by the terms of the loan
facility agreement. The plaintiff avers that since 31st October
2012, the 1st defendant has only paid a total amount of GHC 6,445.00 leaving an
outstanding amount to be paid. It is the case of the plaintiff that the 1st
defendant has admitted her indebtedness to the Plaintiff by exhibiting Exhibit
MNK 1.It avers that their Exhibit A is the full version of Exhibit MNK 1. <o:p></o:p>The Defendants’ Case<o:p></o:p>It
is the case of the defendants that the relationship between the parties began
prior to 2010 and that sometime in October 2012, they approached the Plaintiff
to convert an overdraft facility granted into a loan facility but the
conversion was never done. The 1st defendant says she has paid GHC 151,283.00
as repayment in respect of the overdraft facility of GHC 20,000.00 as indicated
by Exhibit MMK 1 and that in spite of all these payments the plaintiff is
erroneously claiming that there is still an outstanding amount to be paid. The
defendants deny that a restructured loan facility of GHC 82,000.00 was made
available to the 1st defendant. The defendants also aver that the plaintiff has
failed to show a credible statement of account of the 1stDefendant.<o:p></o:p>Issues for Determination<o:p></o:p>After
unsuccessful attempts at settlement, the following issues were set down for
trial namely:<o:p></o:p>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Whether or not the Defendants owe the
Plaintiff the sum of One Hundred and Sixty Thousand and Eighty-Five Ghana Cedis
(GHC163,885.00).<o:p></o:p>