The Court of Appeal will today hear a case in which the Attorney General’s Department has filed for a motion of stay of execution in the case involving government and NDK Financial Services.
[contextly_sidebar id=”uHcKsODpMHzl7PCZerMX8lp0F4pXKvGe”]The Court, last Tuesday granted a motion by the AG’s department to relist stay of execution.
It followed the garnishee processes to get the Bank of Ghana to justify in court why some government accounts should not be frozen to settle judgement debts awarded in favour of NDK Financial Services.
NDK 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.
Contrary to the agreement that all repayments will be made into a joint account operated by the company and NDK financial services, the Ministry has since breached the contract by not effecting payments into the joint account.
Already, NDK has won an 88.5 million cedis judgement debt for 286,000 cedis initially diverted.
Meanwhile a commercial court will on December 9, 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.
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By: Pius Amihere Eduku/citibusinessnews.com/Ghana