IT IS ALL ABOUT THE SALE OF THE DRILL SHIP. WE NEED TO BE TOLD WHY EVIL TSATSU INCURRED THE 47M DOLLAR DEBT. HOW KUFUOR'S MEN NEGOTIATED FOR A REDUCED SETTLEMENT. ALSO THE BEST PRICE OBTAINED FOR THE SHIP. SHAMELESS TSATSU SH ... read full comment
IT IS ALL ABOUT THE SALE OF THE DRILL SHIP. WE NEED TO BE TOLD WHY EVIL TSATSU INCURRED THE 47M DOLLAR DEBT. HOW KUFUOR'S MEN NEGOTIATED FOR A REDUCED SETTLEMENT. ALSO THE BEST PRICE OBTAINED FOR THE SHIP. SHAMELESS TSATSU SHOULD TELL GHANAIANS HOW HE PLAYED WITH THE COUNTRY'S MONEY. THIS ISSUE DOES NOT FALL WITHIN THE MANDATE OF THE SOLE COMMISSIONER. WHY NOT PROBE THE MS COTTON MONEY ISSUE? TSATSU INVESTED OUR MONEY IN SOME COCOA FARM INSTEAD OF SEEKING THE EXPLORATION OF CRUDE OIL. KUFUOR WAS TOO LINIENT TO GRANT HIM PARDON
awonaniba 10 years ago
Keep on crying. D sole commissioner will solely commission npp stealers. Watch it
Keep on crying. D sole commissioner will solely commission npp stealers. Watch it
baffour UK 10 years ago
U hit the nail on the head. All the commissioner is doing is doing the dirty work for his paymasters. Selling a state assets is not a judgement debt. If you hear the questions they ask Takata then you ask yourself are these p ... read full comment
U hit the nail on the head. All the commissioner is doing is doing the dirty work for his paymasters. Selling a state assets is not a judgement debt. If you hear the questions they ask Takata then you ask yourself are these people serious at all. This is ghana and another waste of money for setting up the commission
nana serwaa 10 years ago
I fully agree with you. I think the commissioner has lost his way. the drillship and woyome issues are not related in anyway. why would he try to work for the attoney general
I fully agree with you. I think the commissioner has lost his way. the drillship and woyome issues are not related in anyway. why would he try to work for the attoney general
k p 10 years ago
good piece. you have an interesting point.
good piece. you have an interesting point.
Kwabena Gyamfi 10 years ago
It is clear that the Sole Commissioner has lost his way on the drill ship matter. The commissioner wears NDC lenses and will always do the bidding of those who appointed him. He is not interested in who caused the GNPC's debt ... read full comment
It is clear that the Sole Commissioner has lost his way on the drill ship matter. The commissioner wears NDC lenses and will always do the bidding of those who appointed him. He is not interested in who caused the GNPC's debt, he is there to do political points scoring for NDC. I do not trust him.
Yaw Ohemeng 10 years ago
You have raised very good points but I will say it is a bit too early. We are all waiting to see the diligence that will attend the Isofoton, AAL, Waterville and Woyome cases. If the Commissioner fails to invite Betty Mould-I ... read full comment
You have raised very good points but I will say it is a bit too early. We are all waiting to see the diligence that will attend the Isofoton, AAL, Waterville and Woyome cases. If the Commissioner fails to invite Betty Mould-Iddrisu, Kwabena Duffuor, Martin Amidu and Ebo Barton-Odro then we all will know that his commission is compromised.
You are right to observe that after establishing that there was a claim against GNPC and that the said claim had been settled, that should have been the end of the matter. The commissioner now appears to be going into the merits of the settlement and how the rest was disbursed.
The merit is purely a legal standpoint and depends on who is operating. An Attorney-General deemed it fit not to incur further debt by litigating the matter but to cut the country’s losses. The ship had been mortgaged in the deal and hence seized overseas. A judgement had been made in a foreign court that it be sold.
Those who have taken out mortgages to buy a house will attest that when your house is repossessed, you have no role in its sale. The bank can sell the house for whatever it can get and will still chase you if the proceeds are not sufficient to cover the claim.
The duly elected government at the time decided that it was not going to incur further legal costs (which at the time stood in arrears to the tune of £700,000). There was the risk of spending further in litigating and still come out having to pay the $47m. There was also the risk of SG’s legal costs being awarded against Ghana. In the midst of these uncertainties, a good lawyer will settle for half the amount. This is what appeared to have happened.
If the Commissioner is worried about the whereabouts of the rest of the money, it should refer it to the Auditor-General.
We shall reserve judgement for now on the Commission till he is ready to deliver his report. If at that time, he had called none of the ministers involved in payments in the current NDC government, we will know where to confine his report – to the dustbin of political equalisation!
Kwame 10 years ago
Forson Prempreh you came into the fight with empty hands because your people are being beaten. WESTEL was sold for 120 Million Dollars and it was a subsidiary of GNPC why did Kufuor and his wise ministers do not use part of t ... read full comment
Forson Prempreh you came into the fight with empty hands because your people are being beaten. WESTEL was sold for 120 Million Dollars and it was a subsidiary of GNPC why did Kufuor and his wise ministers do not use part of that money to pay SG.
What has NPP brought to the Ghanaian table apart from making themselves rich and stealing state lands and resources. The fact is that the other drill ship is getting for Ghana 24 Million Dollars a year, I mean in just a year. Kufuor and NPP sold the drill ship Discovery 511 just to spite the face of Ghana and please the white man.
Yaw Ohemeng 10 years ago
A court was pending; the collateral had been seized. What would have told the court? Let me go and sell other assets besides the collateral so that I can come and pay you? That ia not how the system works. If you default, you ... read full comment
A court was pending; the collateral had been seized. What would have told the court? Let me go and sell other assets besides the collateral so that I can come and pay you? That ia not how the system works. If you default, you either pay immediately or the collateral is possessed. Simple.
YB 10 years ago
Thanks for the education, Sir. There is so much ignorance in the country and it's unfortunate that we seem to accept that as normal. You listen to political program on radio and the panelists spill lies. Instead of subjecting ... read full comment
Thanks for the education, Sir. There is so much ignorance in the country and it's unfortunate that we seem to accept that as normal. You listen to political program on radio and the panelists spill lies. Instead of subjecting him to strict proof, the anchor will ask the panelist from the other side to wait for his turn to correct the lies, or wait for his turn to spill his own lies.
OP 10 years ago
In any case westel business was not worth 120 million in 2001. It the was the kufuor's government that paid gor the shares and sat on the company till it shares got value. As at 2001 the GNPC hadnt even paid for the shares in ... read full comment
In any case westel business was not worth 120 million in 2001. It the was the kufuor's government that paid gor the shares and sat on the company till it shares got value. As at 2001 the GNPC hadnt even paid for the shares in westel and the company was in court with GNPC to pay the debt. This means government couldnt have sold it.
Kobena 10 years ago
Where did you get your figures from? This vessel was bought for $12.8m, refurbished for $13m. It was used to drill 3 wells in Tano, one of which was botched through administrative, not technical, incompetence. It then went to ... read full comment
Where did you get your figures from? This vessel was bought for $12.8m, refurbished for $13m. It was used to drill 3 wells in Tano, one of which was botched through administrative, not technical, incompetence. It then went to Mexico on contract and made a gross $14m.
The vessel could only drill in 200m of water. It was scheduled to drill in India, but the contract was cancelled. Meanwhile it was costing $50,000 per month to maintain. Where from this figment about making $24m a year?
Why was it siezed in Oman, if not because it had been mortgaged?
Yes, Prempeh, the Sole Commissioner has veered off course very badly, and as Yaw mentioned, we are all watching very closely.
Abeeku Mensah 10 years ago
Mr. Forson, you should thank God this paper of yours is not for a grade because you would flunk badly. If by your own admission one the tasks of the sole commissioner is to look into how a judgment debt came about then why wo ... read full comment
Mr. Forson, you should thank God this paper of yours is not for a grade because you would flunk badly. If by your own admission one the tasks of the sole commissioner is to look into how a judgment debt came about then why would the sale of the drillship be outside his mandate or jurisdiction? Judgment debts can come about in two ways: liability brought on by contractual (verbal/oral or written) agreement or by fraud. In multiple instances during the Kufour administration, Kufour and some of his official appointees engaged in fraud to create judgment debt for the nation. Ghana, as a nation does owe each year than we produce in revenue each year. Why has Ghana not filed for bankruptcy? We have not because we have tangible assets that if well managed will pay off our debt and thus some world bodies continue to grant us credit lines for continued operation as a nation. Yet within Ghana's own halls of power, we had Kufour administration intentionally and willfully push Ghana Airways into bankruptcy so its assets in London, Ghana and the USA could be sold on the cheap to NPP cronies. If you and other zealots do think owing too much is grounds for bankruptcy then why has Ghana not filed for bankruptcy? There are a lot of our colonial masters willing to take and manage Ghana for all its mineral, natural and human resource as they see a sea of educated and yet incompetent Ghanaian make a mockery and mess of God-blessed nation.
Kufour again sold Ghana Telecom because of indebtedness and poor management. Do you and others think Kufour managed Ghana better than Ghana deserve? Did Ghana have zero trade indebtedness at December 31st 2008? If not why did Atta Mills not sell Ghana in 2009 to clear its books? The sale of the drill ship came about because Ghana's British educated but intellectually inferior bunch of K.T Hammond, ex-president Kufour, Nana Akufo-Addo and others deemed it wise to kill two birds with one stone. By creating bankruptcies without merit they get to label NDC as incompetent while they in the NPP sell off assets on the cheap to allies and pocket some of the proceeds. If you and others believe the drillship was worth selling to clear outstanding debt which was not factual by December 31 2000 then what was the basis for the sale? Kufour and his crew made the sale possible by not fighting on behalf of Ghana on an issue the SG had previously lost twice in court. I'll tell you what Mr. Forson, let the government stop going to court on any and all court proceeding and see if the government does not lose every last one of them. By design Ghana was fooled by the Kufour era and those of you willing to gobble up any and all things NDC as bad are bound to be fools of the century along with NDC fools who see nothing wrong with the mal-administrations of J.J. Rawlings, Atta Mills and soon to be John Mahama administration.
Ghana deserve better than this tribal based fanaticism that is sweeping the nation of purely educated but incompetent leaders being cheered on by a voting public unwilling to read to acquire knowledge on their own free will.
OP 10 years ago
The drillship was not a case of judgement debt. It was simply a judgement instructing that the asset should be sold. There was no judgement amount awarded by the UK court because SG was not in court to make claims. The debt w ... read full comment
The drillship was not a case of judgement debt. It was simply a judgement instructing that the asset should be sold. There was no judgement amount awarded by the UK court because SG was not in court to make claims. The debt was not in disput. It was the delay in payment that a solution was being sought by SG by way of selling the collateral. So therefore the sale of the drillship is a not a judgement debt case. In any case the government decided to sell it and got a value twice what it was paid to acquire it. we bought it for 12 million and sold it for 24 million.
George 10 years ago
Fack or whatever he called himself that time,Yaw ApauFack,was PDC member so no wonder the way he is probing the sale of the drill ship instead of how the debt for which the ship was sold to settle came about and who caused it
Fack or whatever he called himself that time,Yaw ApauFack,was PDC member so no wonder the way he is probing the sale of the drill ship instead of how the debt for which the ship was sold to settle came about and who caused it
IT IS ALL ABOUT THE SALE OF THE DRILL SHIP. WE NEED TO BE TOLD WHY EVIL TSATSU INCURRED THE 47M DOLLAR DEBT. HOW KUFUOR'S MEN NEGOTIATED FOR A REDUCED SETTLEMENT. ALSO THE BEST PRICE OBTAINED FOR THE SHIP. SHAMELESS TSATSU SH ...
read full comment
Keep on crying. D sole commissioner will solely commission npp stealers. Watch it
U hit the nail on the head. All the commissioner is doing is doing the dirty work for his paymasters. Selling a state assets is not a judgement debt. If you hear the questions they ask Takata then you ask yourself are these p ...
read full comment
I fully agree with you. I think the commissioner has lost his way. the drillship and woyome issues are not related in anyway. why would he try to work for the attoney general
good piece. you have an interesting point.
It is clear that the Sole Commissioner has lost his way on the drill ship matter. The commissioner wears NDC lenses and will always do the bidding of those who appointed him. He is not interested in who caused the GNPC's debt ...
read full comment
You have raised very good points but I will say it is a bit too early. We are all waiting to see the diligence that will attend the Isofoton, AAL, Waterville and Woyome cases. If the Commissioner fails to invite Betty Mould-I ...
read full comment
Forson Prempreh you came into the fight with empty hands because your people are being beaten. WESTEL was sold for 120 Million Dollars and it was a subsidiary of GNPC why did Kufuor and his wise ministers do not use part of t ...
read full comment
A court was pending; the collateral had been seized. What would have told the court? Let me go and sell other assets besides the collateral so that I can come and pay you? That ia not how the system works. If you default, you ...
read full comment
Thanks for the education, Sir. There is so much ignorance in the country and it's unfortunate that we seem to accept that as normal. You listen to political program on radio and the panelists spill lies. Instead of subjecting ...
read full comment
In any case westel business was not worth 120 million in 2001. It the was the kufuor's government that paid gor the shares and sat on the company till it shares got value. As at 2001 the GNPC hadnt even paid for the shares in ...
read full comment
Where did you get your figures from? This vessel was bought for $12.8m, refurbished for $13m. It was used to drill 3 wells in Tano, one of which was botched through administrative, not technical, incompetence. It then went to ...
read full comment
Mr. Forson, you should thank God this paper of yours is not for a grade because you would flunk badly. If by your own admission one the tasks of the sole commissioner is to look into how a judgment debt came about then why wo ...
read full comment
The drillship was not a case of judgement debt. It was simply a judgement instructing that the asset should be sold. There was no judgement amount awarded by the UK court because SG was not in court to make claims. The debt w ...
read full comment
Fack or whatever he called himself that time,Yaw ApauFack,was PDC member so no wonder the way he is probing the sale of the drill ship instead of how the debt for which the ship was sold to settle came about and who caused it