Mr Alfred Agbesi Woyome, has joined the class of alleged debtors of defunct UT bank with the receivers of the bank suing him over Gh¢9,461,505.81 unpaid loans .
They also want an order form the court directing the sale of
According to the plaintiffs, the two buildings were used as collateral in securing the loans.
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Statement of claim
The statement of claim of the plaintiffs avers that the bank granted various loans to the company over a period of time.
It said on May 13, 2014, the bank entered into an agreement with the defendants to consolidate the loans, which amounted to Gh¢9,461,505.81, with a monthly interest rate of five percent starting from the date of execution of the agreement.
“The first defendant (Anator Quarry) covenanted to finish paying the said consolidated loan and the interest payable within a period of twenty-four months.
“Although the agreed tenor of the said loan had long lapsed, the defendants have failed, refused and /or neglected to pay the said loan and the interest payable, notwithstanding several demands made on them by the plaintiffs,” It said.
The plaintiffs also accused
According to them, the bank was made to believe that the loans were meant for the operations of the quarry company, but in
“The 3rd defendant (Woyome) at all material times knew very well that he was the ultimate beneficiary of the said loan, but he fraudulently misrepresented to the bank that the said loan was for the business operations of the 1st defendant,” the statement of claim added.
Litany of suits
So far, the receivers have dragged about 20 shareholders, directors and other individuals who they say breached the requisite laws or have failed to repay loans owed the banks, leading to their insolvency
Those dragged to court include the founder of Capital Bank,