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General News of Monday, 3 December 2018


Supreme Court to rule on dispute over Woyome’s property on January 21

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The Supreme Court has set January 21, 2019, to deliver its judgment on the rightful owners of some properties said to belong to businessman Alfred Woyome, which have been earmarked for sale by the state.

The upcoming judgment is on the heels of a dispute between receivers of the defunct UT bank and state over who owns the properties.

While the receivers of the defunct bank claim ownership of the properties by virtue of a defaulted loan by Mr. Woyome, the state argues that the position of the bank cannot be true.

They further accused the receivers of colluding with Mr. Woyome to hide some of his properties.

The properties in question include a quarry in the Volta Region and residential facilities at Trasacco and Tesano in Accra.

The intended sale of the properties by the state is to help defray part of the 51 million cedi debt owed it by Mr. Woyome.


The Supreme Court, on July 29, 2014, ordered Woyome to refund GH¢51.2 million to the state on grounds that he got the money out of unconstitutional and invalid contracts between the state and Waterville Holdings Limited in 2006 for the construction of stadia for the 2008 African Cup of Nations.

Woyome went to the International Court of Arbitration to contest the court’s decision after reneging on his promise to the Supreme Court to pay the money by the end of December 2015.

On March 1, 2016, Woyome prayed the court to give him three years to pay back the money but the court declined to grant his wish.

The court had, in the 2014 review decision, held that the contracts upon which Woyome made and received the claim were in contravention of Article 181 (5) of the 1992 Constitution of Ghana which requires such contracts to be laid before and approved by Parliament.

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