BoG to appear in court over GHC88.5m judgement debt

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A commercial court is expected to today [Wednesday], hear a case in which the Bank of Ghana is expected to justify why some government accounts should not be frozen to pay off judgement debts in favour of NDK Financial Services.

An appeals court last week, struck out a stay of execution case after the Attorney General failed to make an appearance in court.

Citi Business News however understands that the Appeals Court on Tuesday [November 29, 2016], granted a motion by the AG’s department to relist stay of execution.

Lawyers for both parties agreed that the motion be taken on December 6. NDK financial services is in court over the diversion of funds by the Ministry of Energy as payment for a credit facility the company granted Ahaman Enterprise between 2005 and 2009.

Meanwhile a commercial court will on Friday, December 9th 2016, hear the case against the Principal Accountant and Chief Director of the Ministry of Energy for failing to heed a court order to furnish it with details of accounts of payments made in breach of payment guarantees given to NDK Financial Services.

 

Source: citifmonline