ABII NATIONAL SAVINGS & LOANS LTD. has filed a writ at the Accra High Court against the Bono East Regional Minister, Kofi Amoakohene in a bid to recover a debt of GHC866, 580.76.
Lawyers of ABBI national, Adamafio and Associates from Afroso Chambers said the writ number CM/BFS/00862021 was filed on 23rd October 2020 after the Minister who is the first defendants together with his partners Osei Olivert, and T-Shirts & More Press Limited failed to repay the loan.
Prior to the filing of the write, lawyers of ABII national revealed that several letters were written to the defendants calling on them to settle their debts but to no avail.
According to the writ, Honorable Kofi Amoakohene, who is the 1st defendant and the 2nd Defendant, Osei Olivert applied for a loan on behalf of the 3rd Defendant, that’s T-shirts and More Press Ltd to the tune of Two Hundred thousand Ghana Cedis (GHC200,000) to augment the their working capital to facilitate the purchase of home appliances (Samsung, LG, Midea, Nasco and Pearl) from Shree Balaji Ent.
Related posts
The statement said 1st Defendant, that’s honorable Amoakohene in the same letter pledged to pay back the loan if approved in twelve monthly installments using Ford Escape 2011 Model Limited Edition, Stocks in their four retail shops, Renault Scenic Saloon Car Lift back and Mazda Primacy, as collateral security.
The statement indicated that a letter dated 13th April 2015 which was addressed to the 1st Defendant, noted that the savings and loans company proposed that it could only offer s sum of One Hundred Thousand Ghana Cedis (GHC100, 000) to them subject to terms and conditions which were clearly stated and attached to the said offer letter.
The plaintiff, that’s ABII National, indicated that interest on the loan offer made to the Defendants was 4.5% straight line per month collectible monthly and calculated on the basis of a 365-day year.
It further indicated that the 1st Defendant, that’s Kofi Amoakohene on 14th April 2015 wrote a letter to the Plaintiff to officially confirm and accept the Hundred Thousand Ghana Cedis (GHC100,000) loan offer made to the Defendants in a letter stating that the board of 3rd Defendant in a resolution had accepted all terms and conditions related to the credit facility/loan offer which letter was duly signed by the 1st defendant and counter-signed the 2nd Defendant respectively.
On 15th March 2016, the Plaintiff , that’s ABII National Savings and Loans granted a restructure of the loan to the 3rd Defendant upon request by the 1st and 2nd Defendants bringing their outstanding loan balance to One Hundred and Forty-Six Thousand, Three Hundred and Eighty-five Ghana Cedis and Seven-Five pesewas (GHC146,384.75) within the terms and conditions as stated in the offer and acceptance letters and duly signed on the 24th March 2016.
According to the Writ, the 1st, 2nd and 3rd Defendants have since refused and, or failed to service the credit/loan facility by their incessant defaults attitude on the loan repayments including the accrued interests thereof, although several demand notices have been given to them.
“as at 1st August 2020 the total indebtedness of the 1st, 2nd and 3rd Defendants stood at Eight Hundred and Sixty-Six thousand, Five Hundred and Eighty Ghana Cedis and Seven-Six pesewas (GHC866,580.76) and here again the 1st, 2nd and 3rd Defendants have persistently refused and, or failed to heed the Plaintiff’s demand notices to settle their credit/loan repayment obligations.
The write explained that “all the items used as collateral to procure the credit/loan facility are still being possessed by the 1st, 2nd and 3rd Defendants. The only item with the Plaintiff currently is a Peugeot Boxer owned by the 3rd Defendant and officially valued as Sixty-Five Thousand Ghana Cedis.”
“Given the hostile and repulsive attitude of the 1st and the 2nd Defendants, unless and until this Honorable Court orders them to settle all their outstanding indebtedness owed to the Plaintiff, the 1st, 2nd and the 3rd Defendants will continue to act with impunity in settling their indebtedness owed the Plaintiff.” The write noted.
READ FULL STATEMENT
IN THE SUPERIOR COURT OF JUDICATURE ,IN THE HIGH COURT OF JUSTICE,COMMERCIAL DIIVISION, ACCRA – A.D 2020. , SUIT NO:
- ABII NATIONAL SAVINGS & LOANS LTD. PLAINTIFF, (PER ITS CHIEF EXECUTIVE OFFICER (CEO) ,MR. NANA YAW OKYERE-ADUACHIE) ,NR H/NO. C372/1.,NSAWAN ROAD ACCRA
VRS.
- KOFI AMOAKOHENE 1ST DEFENDANT,MANAGING DIRECTOR
T-SHIRTS & MORE PRESS LTD., OPPOSITE MELCOM PLUS, NORTH-KANESHIE, ACCRA
- OSEI OLIVERT 2ND DEFENDTANT,EXECUTIVE DIRECTOR
T-SHIRTS & MORE PRESS LTD.H/NO. H85/2 ACHIMOTA, ACCRA.
- T-SHIRTS & MORE PRESS LTD. 3RD DEFENDANT
T-SHIRTS & MORE PRESS LIMITED, KANESHIE ACCRA.
STATEMENT OF CLAIM
- The Plaintiff is a Savings and Loans Company registered under the laws of Ghana.
- The 1st Defendant and 2nd Defendants are Directors of the 3rd
- The 2nd Defendant is an Executive Director of the 3rd Defendant and one of Directors who guaranteed for the loan facility from the Plaintiff.
- The 3rd Defendant is a company registered under the laws of Ghana who are into marketing and advertising company with dealings in Import and Export supplies, Fashion and Accessories.
- Plaintiff say that the 1st and the 2nd Defendants consented to jointly and severally be liable as guarantors for the loan facility taken by the 3rd
- Plaintiff say that in a letter duly signed and dated 19th December 2014, the 1st Defendant applied for a loan on behalf of the 3rd Defendant to the tune of Two Hundred thousand Ghana Cedis (GHC200,000) to augment the 3rd Defendant’s working capital to facilitate the purchase of home appliances (Samsung, LG, Midea, Nasco and Pearl) from Shree Balaji Ent.
- Plaintiff say that the 1st Defendant in the same letter pledged to pay back the loan if approved in twelve monthly installments using Ford Escape 2011 Model Limited Edition, Stocks in their four retail shops, Renault Scenic Saloon Car Lift back and Mazda Primacy, as collateral security.
- Plaintiff say that by a letter dated 13th April 2015 and addressed to the 1st Defendant, a Hundred Thousand Ghana Cedis (GHC100,000) offer was instead made to the Defendants which offer was subject to terms and conditions clearly stated and attached to the said offer letter.
- Plaintiff say that interest on the loan offer made to the Defendants was 4.5% straight line per month collectible monthly and will be calculated on the basis of a 365-day year irrespective of whether or not the year is a leap year, be calculated on the daily balance owing under the offer notwithstanding that such balanced may have been increased by the debiting of interest to such balance, accrue from day to day and be debited to the borrower’s account held with the financial institution, as per a repayment schedule attached to the Defendants. Other terms and conditions applied.
- Plaintiff say that the 1st Defendant on the 14th April 2015 wrote a letter to the Plaintiff to officially confirm and accept the Hundred Thousand Ghana Cedis (GHC100,000) loan offer made to the Defendants in a letter stating that the board of 3rd Defendant in a resolution have accepted all terms and conditions related to the credit facility/loan offer which letter was duly signed by the 1st defendant and counter-signed the 2nd Defendant respectively.
- Plaintiff say that on the 15th March 2016, Plaintiff granted a restructure of the loan to the 3rd Defendant upon request by the 1st and 2nd Defendants bringing their outstanding loan balance to One Hundred and Forty-Six Thousand, Three Hundred and Eighty-five Ghana Cedis and Seven-Five pesewas (GHC146,384.75) within the terms and conditions as stated in the offer and acceptance letters and duly signed on the 24th March 2016.
- Plaintiff say that the 1st, 2nd and 3rd Defendants have refused and, or failed to service the credit/loan facility by their incessant defaults attitude on the loan repayments including the accrued interests thereof, although several demand notices have been given to them.
- Plaintiff say that as at 1st August 2020 the total indebtedness of the 1st, 2nd and 3rd Defendants stood at Eight Hundred and Sixty-Six thousand, Five Hundred and Eighty Ghana Cedis and Seven-Six pesewas (GHC866,580.76) and here again the 1st, 2nd and 3rd Defendants have persistently refused and, or failed to heed the Plaintiff’s demand notices to settle their credit/loan repayment obligations.
- Plaintiff say that of all the items used as collateral to procure the credit/loan facility, the 1st, 2nd and 3rd Defendants continue to possess them and the only item with the Plaintiff currently is a Peugeot Boxer owned by the 3rd Defendant and officially valued as Sixty-Five Thousand Ghana Cedis.
- Plaintiff say that given the hostile and repulsive attitude of the 1st and the 2nd Defendants, unless and until this Honourable Court orders them to settle all their outstanding indebtedness owed to the Plaintiff, the 1st, 2nd and the 3rd Defendants will continue to act with impunity in settling their indebtedness owed the Plaintiff.
WHEREFORE, the Plaintiff claim against the 1st, 2nd and 3rd Defendants jointly and severally as follows;
- An Order for the Recovery of Eight Hundred and Sixty-Six thousand, Five Hundred and Eighty Ghana Cedis and Seven-Six pesewas (GHC866,580.76) being the Defendants indebtedness due for settlement as at the 8th September 2020.
- Interest on the Eight Hundred and Sixty-Six thousand, Five Hundred and Eighty Ghana Cedis and Seven-Six pesewas (GHC866,580.76) at the prevailing commercial bank rate, from 8th September 2020 till the date of final payment.
- Damages for breach of contract terms.Cost inclusive of legal fees.
- Any other order(s) as this Honourable Court may deem fit.
