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Borrower Held Liable for Outstanding Balance on Insufficient Mortgaged Security

On 12 April 2023, the Court of Appeal (COA) reaffirmed its previous position regarding liability of the borrower who pledged a security that turned out to be insufficient at the time of realization of the property. The factual background of the case is that the bank had s..

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A Lender’s Duty of Care while exercising the Power of Sale

The Daily Nation published a newspaper article on 21st March 2023 which has elicited much concern, especially from lenders on the issue of guarantees as security for a debt, with financiers worrying that guarantors, who are supposed to be a fallback when a loan goes bad, ..

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Ghana: Governing law and jurisdiction clauses in cross-border facility agreements

Local entities are increasingly relying on foreign banks for debt financing to meet the capital requirements of their business. In lending to local entities, foreign lenders consistently require a res..

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