National Investment Bank Limited v. Johnosk Pharmapack Limited and 2 Ors

1 Introduction and background facts I must indicate at the outset that trial in this suit proceeded without the attendance of defendants and their lawyer.

On 16 August 2012, plaintiff commenced this action by writ of summons.

The suit has since suffered much delay caused largely by non-attendance of defendants to court.

Indeed, the court had to order for substituted service of plaintiff’s writ of summons and statement by publication in the Ghanaian Times, Wednesday 19 December 2012 edition.

Defendants managed to file their statement of defence by Francis Kwesi Otoo.

1 Though filed out of time, the court admitted it.

Defendants have not personally participated in this case.

According to Mr Otoo2, “…. 3rd defendant has been the unfortunate victim of stroke and is hospitalized”, whilst “. . . . 2nd defendant is out of the jurisdiction and lives in the United States of America. ” Thus plaintiff’s processes have all either been served, or attempted on Mr Otoo, their lawyer.

2 Plaintiff’s case Following default of payments of what plaintiff claims to be various loan facilities it had granted to 1st defendant upon security of guarantees provided by other defendants in this suit, plaintiff bank on 16 August 2012 commenced this action by writ of summons against the three defendants jointly and severally for the following reliefs: (i) Payment of the total sum of Three Hundred and Twenty-One Thousand Four Hundred and Twenty-Four Ghana Cedis (GH¢321, 424. 51) being the aggregate balance outstanding as at 13th of June, 2012 in respect of various loan facilities granted by the plaintiff bank to the 1st defendant and which loans were guaranteed jointly and severally by the 2nd and 3rd defendants.

ii) Interest on the said GH¢321, 424. 51 at the variable compounded rate of 24% per annum from the 14th day of June, 2012 until the date of final payment.

iii) An order for the judicial sale of the landed property mortgaged to the plaintiff as security for the payment of the loan, namely; ALL THAT PIECE and PARCEL of land situate lying and being at Ngleshie-Amanfro, Accra covering an area 0. 32 acre bounded on the North-West by the Lessor’s land measuring 140 Feet more or less on the East by the Lessor’s land measuring 100 Feet more or less and on the West by the property of Ebenezer Owusu Asante measuring 100 Feet more or less together with any building standing thereon.

iv) An order for the judicial sale of the under-listed chattels assigned to the plaintiff by the