TREBARH AND ANOTHER VRS. HFC BANK GHANA LTD (C2/75/2015) [2024] GHAHC 73 (30 April 2024)

TREBARH AND ANOTHER VRS. HFC BANK GHANA LTD (C2/75/2015) [2024] GHAHC 73 (30 April 2024)

The Defendant’s demand for GHS71,225.87 as outstanding loan balance is supported by documentary evidence and unchallenged testimony. Plaintiffs failed to contest the balance or penal charges. The mortgage agreement provided for adjustable interest and penal charges, and the financial analyst’s report confirmed...

Source-derived case information.

Citation
TREBARH AND ANOTHER VRS. HFC BANK GHANA LTD (C2/75/2015) [2024] GHAHC 73 (30 April 2024)
Parties
Plaintiff: Stephen Trebarh; Plaintiff: Divine K. Trebarh; Defendant: HFC Bank Ghana Ltd
Court
ghahc
Jurisdiction
Ghana
Judgment Date
30 April 2024
Procedural Posture
Civil / Final Judgment
Outcome
Judgment for Defendant
Legal Topics
Mortgage, Loan Facility, Interest Calculation, Penal Charges, Debt Recovery
Source Language
en
Banking Contract Property Mortgage Loan Facility Interest Calculation Penal Charges Debt Recovery

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Summary, issues, holding and outcome

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Parties

Stephen Trebarh

Plaintiff

Divine K. Trebarh

Plaintiff

HFC Bank Ghana Ltd

Defendant

Procedural Posture

Civil / Final Judgment

Legal Issues

  1. 1 Whether the loan facility granted was GHS1,934.57
  2. 2 Whether the mortgage agreement disclosed the interest rate
  3. 3 Whether interest was calculated per annum

Ratio Decidendi

The Defendant’s demand for GHS71,225.87 as outstanding loan balance is supported by documentary evidence and unchallenged testimony. Plaintiffs failed to contest the balance or penal charges. The mortgage agreement provided for adjustable interest and penal charges, and the financial analyst’s report confirmed interest calculation per agreement. Judgment is entered for Defendant for the outstanding balance, interest at prevailing commercial bank rate, and costs.

Court Disposition

Judgment for Defendant

Orders

  • Plaintiffs to pay Defendant GHS71,233.08 as outstanding loan balance
  • Interest at prevailing commercial bank rate (simple interest) from date of judgment until final payment