AGRICULTURAL DEVELOPMENT BANK LTD. vs. ANTHONY ANNAN [2023]DLHC16943

Date	2023-05-05
Suit No.	SUIT NO. BFS/03/2022
Citation No.	[2023]DLHC16943

HIS LORDSHIP JUSTICE EMMANUEL A. LODOH

ARABA SIKA ABAIDOO ESQ

K.O. AMPONSAH DADZIE ESQ

[2023]DLHC16943
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													<main id="main" class="content" style="min-height: 60rem" >AGRICULTURAL DEVELOPMENT BANK LTD.<o:p></o:p>(PLAINTIFF)<o:p></o:p>vs.<o:p></o:p>ANTHONY ANNAN<o:p></o:p>(DEFENDANT)<o:p></o:p>[HIGH
COURT, CAPE COAST]<o:p></o:p>&nbsp;<div style="border-top: none; border-right: none; border-left: none; border-image: initial; border-bottom-width: 1.5pt; border-bottom-color: black; padding: 0cm 0cm 1pt; margin-left: 4.5pt; margin-right: -2.5pt;">

ARABA SIKA ABAIDOO, ESQ.
FOR PLAINTIFF<o:p></o:p>

K.O. AMPONSAH DADZIE, ESQ.
FOR DEFENDANT<o:p></o:p>

</div>CORAM&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <o:p></o:p>HIS LORDSHIP JUSTICE
EMMANUEL A. LODOH<o:p></o:p><div style="border-top-width: 1.5pt; border-top-color: black; border-left: none; border-bottom-width: 1.5pt; border-bottom-color: black; border-right: none; padding: 1pt 0cm; margin-left: 4.5pt; margin-right: -2.5pt;">

JUDGMENT<o:p></o:p>

</div>The jurisdiction of this
court has been invoked by the Plaintiff bank to determine whether or not they
are entitled to recover monies unpaid by the Defendant arising out of a loan facility
contract and additionally monies allegedly inadvertently paid to the
Defendant by the Plaintiff bank. Thus per a Writ of Summons taken out of the
Registry of the High Court, Commercial Court Division dated 17th December, 2021 the plaintiff seeks
the following specific reliefs against the Defendant.<o:p></o:p>&nbsp;a.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-variant-position: 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 recovery of the sum of Four Hundred and
Seventy-Three Thousand, Eight Hundred and Sixty-Two Ghana Cedis, Seventy-Nine
Pesewas (GH¢ 473,862.79) being outstanding balance on Term Loan of Fifty
Thousand Ghana Cedis granted the Defendant on 26th March, 2012.<o:p></o:p>b.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-variant-position: 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 GH¢ 473,862.79 at the contractual
default compound interest rate of 36% from 1st October 2021 to date of final
payment.<o:p></o:p>c.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-variant-position: 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;&nbsp;
The recovery of Four Hundred and Fifty-Five
Thousand, Five Hundred and Ninety-Eight Ghana Cedis, Eleven Pesewas (GH¢
455,598.11) being outstanding balance
on Fifty Thousand Ghana Cedis credited to the Defendant's account on 9th May,
2012.<o:p></o:p>d.