Accra, Sept. 20, GNA - The Commercial Division of the High Court on Thursday dismissed a contempt application filed against Mr Stephen Kwadwo Amoah-Marfo, Chief Executive of Ikam, a private security-printing firm in Accra.

It further granted an order for variation in default judgement against Mr Amoah-Marfo in an 11.783 billion-cedi debt he owed Mr Duku Woode, a businessman.

Mr Amoah-Marfo was to pay the debt in four instalments of 2.945 billion cedis on August 31, September 30, October 31 and on or before November 30, 2007 following a similar court order made by Mrs Justice Margaret Insaidoo.

Mr Woode, however, hauled him before another court for default judgement, but he pleaded for variation in default judgement. The Court presided over by Mrs Justice Gertrude Torkenu in granting the variation of judgement in the matter on Thursday, reviewed the terms of payment saying he was to complete paying the 11.783 billion cedis by the end of December this year.

This was because Mr Amoah-Marfo had complied with a directive to provide a title deed covering one of his properties in Adenta, Accra. He has already paid one billion cedis for the first instalment. The Court said should Mr Marfo fail to comply with its directive, his house at Adenta or any other of his properties should be attached. On the contempt application, the Court noted that it was not relevant to commit Mr Amoah-Marfo to jail if he could pay the money. Earlier, Mrs Ntriwah Mensah, who represented Mr Amaoh-Marfo, prayed for variation of judgement default saying her client had complied with the order by providing his title deed on one of his properties at Adenta.

But Mr Kofi Fodah, counsel for Mr Woode, opposed the submission saying that the title deed on the said property was only worth 300 million cedis.

Mr Fodah maintained that Mr Amoah-Marfo should be committed to jail because he had shown disrespect to the orders of the Court. Mr Amoah-Marfo had taken a loan of 10 billion cedis from Mr Woode, which was to be paid back in three months at 10 per cent interest.