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BANK OF AFRICA GHANA LIMITED vs LOUIS ASOMANING-BIMPONG

2018

HIGH COURT

GHANA

CORAM

  • HER LADYSHIP, JUSTICE JENNIFER A. DADZIE

Areas of Law

  • Civil Procedure
  • Banking and Finance Law
  • Contract Law
  • Evidence Law

AI Generated Summary

Justice Jennifer Abena Dadzie of the High Court (Commercial Division) in Ghana granted a judgment on admissions in a debt recovery claim between a commercial lending bank and its borrower. The bank sued after the borrower failed to repay a facility originally advanced in June 2012 and subsequently restructured by a facility letter in April 2013 specifying a base interest rate of 25.95% per annum. Following court orders, the Deputy Director of Finance of the Judicial Service of Ghana audited the parties account, concluding as of 31 August 2016 that the borrower owed GHa545,811.38. Both sides accepted the audit in open court and neither cross-examined the auditor. The borrower paid GHa536,000 by November 2017, leaving GHa59,811.38 unpaid. Applying Order 23 of C.I. 47 and the Evidence Act (NRCD 323), the Court held that acceptance of the reconciliation was a clear, unequivocal admission warranting judgment for the outstanding balance, interest at 25.95% from 1 September 2016 until final payment, and costs of GHa5500.

JUDGMENT