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General News of Wednesday, 2 June 2021

Source: www.ghanaweb.com

Supreme Court orders state to pay GH¢14,689 to NDK in judgement debt claim

The NDK building The NDK building

• The Supreme Court has ordered the state to pay GH¢14,689 to NDK Financial Services

• The apex court gave the ruling over a judgement debt claim [NDK] made against the state.

• The full reasoning of the Supreme Court is set to be released on or before June 4, 2021

The Supreme of Court of Ghana has ruled in favour of NDK Financial Services over a judgement debt claim it made against the state.

The development comes after a Government of Ghana (GoG) contract was awarded to one Ahaman Enterprises for the hauling of electricity poles and other electrical materials of which the company obtained a loan facility from the NDK to enable it to execute the said contract.

The GoG on its part guaranteed to make payment in the joint names of the NDK and Ahaman Enterprises; however, payment was only made to the company without reference to the NDK. Subsequently, the Ahaman failed to pay same to NDK to redeem their indebtedness.

A five-member panel presided over by Chief Justice Kwesi Anin-Yeboah in its ruling awarded an amount of GH¢14,689 to be paid to NDK.

The Supreme Court panel which also comprised Justices Jones Dotse, Paul Baffoe-Bonnie, Nene Amegatcher and Sule Gbedegbe (retired) also ordered the state to pay interest at the prevailing rate from 28 November 2014 to the date of payment to NDK.

In its original suit, NDK had prayed the Supreme Court to award it some GH¢1.2 billion. Per the ruling, the state will now save an amount of GH¢1,272,985,310.26.

The reasoning of the Supreme Court is set to be released on or before June 4, 2021.

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