GHANA HOME LOANS LTD (PLAINTIFF) vs. PHILIP ABRADU-OTOO & ANOR. (DEFENDANTS) [2019]DLHC7260

Date	2019-06-24
Suit No.	SUIT NO. BFS/190/2014
Citation No.	[2019]DLHC7260

HIS LORDSHIP GEORGE K. KOOMSON (J).

AMELIA ADJOTEYE FOR PLAINTIFF

JUSTICE ADUSAH-POKU FOR THE DEFENDANTS

[2019]DLHC7260
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													<main id="main" class="content" style="min-height: 60rem" >GHANA HOME LOANS LTD<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>PHILIP ABRADU-OTOO &amp;
ANOR.<o:p></o:p>(DEFENDANTS)<o:p></o:p>[HIGH COURT (COMMERCIAL DIVISION),
ACCRA]<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/190/2014&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; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; DATE: 24TH
JUNE, 2019<o:p></o:p>

</div>COUNSEL: <o:p></o:p>AMELIA ADJOTEYE 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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JUSTICE
ADUSAH-POKU FOR THE DEFENDANTS<o:p></o:p>

</div>CORAM:<o:p></o:p>HIS LORDSHIP GEORGE K.
KOOMSON (J).<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:0in;margin-bottom:.0001pt;
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mso-border-bottom-alt:solid windowtext 1.5pt;padding:0in;mso-padding-alt:1.0pt 0in 1.0pt 0in">JUDGMENT <o:p></o:p>

</div>In June 2008, the parties entered into
a contract whereby the Plaintiff granted to the Defendants a USD62,000.00 loan
facility at an agreed interest rate of 12.50% per annum.&nbsp; <o:p></o:p>It is further agreed between the
parties that in the event of default the default rate of interest shall be at
18.50% per annum.&nbsp; The Defendants’
default and the persistent demand on them to settle their indebtedness having
failed, caused the Plaintiff to issue the Writ of Summons asking for the
following reliefs:-<o:p></o:p>1.<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The
Defendants pay the Plaintiff the amount of USD60,614.34 being the outstanding
balance on the loan facility granted to the Defendants.<o:p></o:p><o:p>&nbsp;</o:p>2.<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Interest
on the said amount from 18th June, 2014 to the date of final payment
at the agreed rate of 18.50% per annum.<o:p></o:p><o:p>&nbsp;</o:p>3.<span style="font-style: normal; font-variant-numeric: normal; font-variant-east-asian: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: &quot;Times New Roman&quot;;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Costs
accessioned by this action.<o:p></o:p>It is noted that on the 12th
March, 2019 the Court Ordered parties to file their respective witness
statements and check-lists.&nbsp; On the 9th
May, 2019, the Court struck out the statement of defence of the Defendants upon
their failure to comply with the order of the court made on the 12th
March, 2019 in accordance with the High Court (Civil Procedure) Rules, 2004
(C.I 47) as amended by C.I.87 Order 32 rule 7A(3).<o:p></o:p>The case of the Plaintiff as presented
by its representative is that, at the request of the Defendants, the Plaintiff
granted the Defendants a loan facility of USD62,000.00 somewhere in June,
2008.&nbsp; This agreement was reduced into
writing which Plaintiff tendered as Exhibit ‘A’.&nbsp; By the said agreement, the parties agreed
that the interest rate was 12.50% per annum and a default interest rate of
18.50% per annum.<o:p></o:p>It is the case of the Plaintiff that
the Defendants defaulted payments in 2014.&nbsp;
As a result of their persistent default, the Plaintiff wrote letters and
mad several contacts with the Defendants for them to settle the areas but the
Defendants failed to do so.&nbsp; As a result,
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