WOMEN’S WORLD BANKING GHANA v. VICTORIA ASOWAH & ANOR
2015
HIGH COURT
GHANA
CORAM
- HER LADYSHIP ANGELINA MENSAH-HOMIAH (MRS.) JUSTICE OF THE HIGH COURT
Areas of Law
- Banking and Finance Law
- Civil Procedure
- Contract Law
2015
HIGH COURT
GHANA
CORAM
AI Generated Summary
In this bank debt recovery case, the plaintiff sought GH₵30,000.00 from the defendants. The 1st defendant had secured a loan from the plaintiff but defaulted on payments. Attempts to serve the 2nd defendant failed, and the court struck out the appearance filed on her behalf. The 1st defendant and her lawyer also failed to appear in court despite notices, leading the court to proceed under Order 36 of CI 47. The court found the 1st defendant liable for GH₵27,763.13 plus 45.6% annual interest from 14/10/2014 and 6% penalty interest. Costs of GH₵2,000.00 were also awarded to the plaintiff.
JUDGMENT
This is a Bank Debt Recovery case in which the Plaintiff seeks to recover an amount of GH ¢30,000.00 from the Defendants together with interest from 13/11/2013 till date of final payment. The sole issue for determination is whether or not the Plaintiff is entitled to the reliefs endorsed on the writ of summons.
The Plaintiff’s case as captured from its statement of claim filed on 06/05/2014 is as follows: Upon the request of the 1st Defendant, the Plaintiff granted a loan of GH¢30,000.00 to her payable within twelve months; at an interest rate of 45.06% per annum. The monthly installment payment is GH¢3, 940.00
The 1st Defendant secured the loan with a guarantee fund, household assets, future sales and stock.
She further assigned her interest in stock and household assets to the Plain tiff during the period of the facility. The 2nd Defendant also guaranteed the repayment of the loan by executing a contract of guarantee dated 13/09/2013. The 1st Defendant failed to keep up on the monthly installment payments necessitating the Plaintiff to call in the facility and take the instant action.
In the statement of defence filed on behalf of the Defendants on 05/06/2014, the 1st Defendant did not deny the grant of the GH¢ 30,000.00 loan to her at the interest rate and monthly installment payment stated by the Plaintiff. She however denied assigning her stock and household assets to the Plaintiff. Her defence was that she imported some goods from India which had not arrived. Consequently, she could only make a payment of GH¢7,000.00 plus the guarantee fund of GH¢7,500, bringing her total payments to GH¢ 14,500.00. She further alleged that her failure to keep up on the payments is not deliberate.
I notice from the record that there is an affidavit of service of the writ of summons and statement of claim in respect of the 1st Defendant only. Per the said affidavit, she was served with the above processes on 19/05/2014. On 23/05/2014, a lawyer by name Yaw Owusu Asamoah purported to enter an appearance on behalf of the two defendants and proceeded to file a defence. Prior to the commencement of this trial, all efforts to serve the 2nd Defendnat with hearing notices proved futile as the said defendant could not be traced. Three hearing notices were also served on Yaw Owusu Asamoah Esq. on 08/01/2015, 21/01/2015 and 11/02/2015. Counsel was duly served through his law clerk, Bright, at Aseda House, Kumasi. Both Defendants and the Lawyer failed to appear in c