FIRST NATIONAL BANK GH. LTD. vs EMMANUEL AKPEBU

WHEREAS:

A. By a Writ of Summons and a Statement of Claim filed on 21st October, 2021 the Plaintiff commenced this case against the Defendant and claimed the following reliefs endorsed the said processes:

a. The Defendant pays the Plaintiff the amount of One Hundred and One Thousand, Nine Hundred and Ten United States Dollars and Nine Cents (USD101,910.09) being the outstanding balance on the facility granted to the Defendant.

b. Interest on the said amount from 11th August 2021 to the date of final payment at a rate of 19.40% per annum.

c. Cost occasioned by this action.

The Plaintiff and the Defendant having agreed to the terms set out below and the Defendant having

admitted liability to the Plaintiff’s Claim and the Plaintiff having agreed to accept he sum of One

Hundred and Ten Thousand, Two Hundred United States Dollars and Thirty-Nine Cents

(USD110, 200.39) in full and final settlement of the Defendant’s indebtedness to it.

By Consent all proceedings in this action be stayed except for the purpose of carrying such terms

in effect.

NOW THIS SETTLEMENT AGREEMENT WITNESS AS FOLLOWS:

1. That the Defendant shall pay the total sum of One Hundred and Ten Thousand, Two Hundred United States Dollars and Thirty-Nine Cents (USD110,200.39) over a period of Twenty Four (24) months at a monthly repayment of Four Thousand, Five Hundred and Ninety Two United States Dollars (USD4,592.00).

2. That the said payment of Four Thousand, Five Hundred and Ninety Two United States Dollars (USD4,592.00) shall be made on or before the 28th day of each month till the entire debt is extinguished starting from 28th of February 2023.

3. That in the event of a default by the Defendant the parties agree that the Plaintiff shall be entitled to all the reliefs endorsed on the Writ of Summons.

4. That this Honourable Court shall enter the above terms as the Judgment of the Court.

DATED IN ACCRA, THIS 31ST DAY OF JANUARY, 2023

(SGD) (SGD)

___________________________ ___________________________

PLAINTIFF DEFENDANT

(SGD) (SGD)

___________________________ ___________________________

LAWYER FOR PLAINTIFF LAWYER FOR DEFENDANT

BY COURT

The Terms of Settlement arrived at between the parties and filed on 31st January, 2023

is hereby adopted as the Consent Judgment of the Court.

(SGD.)

AFI AGBANU KUDOMOR (MRS.)

(JUSTICE OF THE HIGH COURT)