GH - BARCLAYS (GH) LIMITED v. GENERAL DEVELOPMENT CO.

JUDGMENT

OWUSU-ANSAH, J.A.

The defendant/Appellant allegedly defaulted in the payment of facilities granted to it, by the Plaintiff/Respondent, despite repeated demands, and the Defendant/Appellants own numerous promises to repay the facilities.

By 8th March 2002, the Defendants/Appellants total indebtedness to the Plaintiff/Respondent under various facilities stood at ¢5,154,243,371.48

On the 21st March 2002, the Plaintiff/Respondent commenced action in the High Court Sekondi, in suit No. CS 69/2002 for the following reliefs:

1. The recovery of the sum of ¢5,154,243,371.48 being the balance due and owing on Banking facilities granted to the Defendant at its request and which it had failed to pay, and/or refused to pay despite repeated demands.

2. Interest on the said sum of ¢5,154,243,371.48 at the prevailing Bank rate from the 8th March, 2002, up to and including the date of final payment.

OR in the alternative

An order for the judicial sale of

All the assets of the Defendant as described in the Debenture Deed, executed in favour of the Plaintiff dated the 9th day of September, 1999, stamped as document No. LVB 122259/99, and registered at the Registrar of Companies as No. 11,613 under a Certificate of registration of a mortgage charge:

a. All that piece or parcel of land with building or buildings thereon, situate, lying and being at Ngyiresia comprised in the mortgage deed dated the 8th day of May 2001 and bearing land registration No. 235/2002.

b. Costs.

The Defendant/Appellant was served with the Writ of Summons and acompanying Statement of Claim on the same 21st March, 2002.

On the 11th April, the Defendant/Appellant entered a conditional appearance to the suit, but took no further steps thereafter.

On the 6th May, 2002, i.e. 25 days after the entry of Conditional appearance, by the Defendant, the Plaintiff/Respondent filed Summons for Judgment under Order 14 as amended by LI 1129, and the Summons was fixed for hearing on the 27th May, 2002

The Defendant was served with the Summons on the 6th May 2002 at 10.30 a.m. and a number of documents were attached to the Summons as exhibits to be referred to at the hearing including:

• The debenture Deed dated 18/2/99

• The Legal mortgage dated 9/5/2001

• Plaintiffs various demand letters served on the Defendant/Appellant;

• Statement of Accounts in respect of the Defendant/appellants accounts.

When the summons came on for hearing on the 27th May 2002, the Defendant/appellant was absent