INTRODUCTION
This is a debt recovery claim in which the Plaintiff is demanding from the Defendants the balance of outstanding debt against them . In the Plaintiff's Writ of Summons and Statement of Claim issued on 8 th August, 2019 it claimed against the Defendants the sum of GHS10,986,788.02 being the cost of petroleum products supplied and unpaid for together with interest on the said sum on compound interest of 27% per month from 26 th April, 2019 and damages for breach of contract. In the Defendants' Amended Statement of Defence filed on 19 th July, 2023 they deny that 2 nd Defendant is a shareholder of the 1 st Defendant company and also stated that the company with whom the Plaintiff entered into this transaction was Deliman & Co. and not Deliman Oil Company Ltd, 1 st Defendant herein. It appears the Plaintiff has two (2) suits in different Courts, one against Deliman & Co. Ltd and the other against Deliman Oil Company Ltd. In response to the Plaintiff's claim the Defendants admit receiving products from Plaintiff in the name of Deliman & Co. Ltd. on credit but deny owing the sum alleged as Plaintiff had
refused to reconcile accounts with the Defendants. According to the Defendants there was no agreement between the parties to charge interest on any outstanding balance at the rate of 27% interest compounded per month.
SUMMARY OF PLAINTIFF'S CASE
The Plaintiff is in the business of bulk oil distribution and the 2 nd Defendant is the shareholder of the 1 st Defendant Company. According to the Plaintiff sometime in 2012, 2 nd Defendant requested the Plaintiff to supply petroleum products to them on credit basis which they did. Plaintiff states that it was a term of the agreement between the parties that interest would apply on default payment at 27% compound interest for each month of default. Plaintiff again averred that pursuant to the agreement between the parties, sometime in May 2012 supplies of petroleum products were made to the Defendant on a 30day credit basis for which initial payments were made by the Defendants to Plaintiff in accordance with the Credit Sale Agreement. Unfortunately, the Defendants stopped the payments per the agreed arrangement of the parties and as at 26 th April, 2013 their indebtedness, according to the Plaintiff stood at GHS7,188,948.90, out of which the 1 st Defendant paid GHS5,165,042.65 with an outstanding balance of GHS2,024,906.27 unsettled . Hence the Plaintiff's claim against the Defendant s as follows:
a. R
