The Commercial Court Division of the High Court will today [Wednesday] rule on the injunction application filed by three Members of Parliament seeking to stop the Ghana National Petroleum Corporation (GNPC) from going ahead to secure a 700 million dollar loan from the Deutche Bank of Germany.
[contextly_sidebar id=”vyK22nPDKel4po5z2CBInuPsHjnejXGq”]The three MPs, Dr. Mathew Opoku Prempeh, Dr. Anthony Akoto Osei and Samuel Atta Akyea are challenging the decision by the GNPC to side-step Parliament in their bid to secure the loan.
The MPs are praying the court to direct the GNPC to suspend any transactions relating to the procurement of the loan, at least until hearing of the substantive case is concluded.
They officially filed the case on November 27, 2014 at the high court and proceedings took off at Commercial Court ‘A’ on December 3,2014.
Counsel for the MPs, Nana Asante Bediatuo, sought an interim injunction to restrain the GNPC from taking further steps in pursuit of the $700 million loan.
However Lawyer for the GNPC, Tony Lithur opposed it saying,” GNPC as a statutory institution is mindful of its obligations, and believes it has a strong case, and therefore would not do anything to undermine the case.”
In an earlier interview with Citi News in 2014 , the Chief Executive Officer of the GNPC, Alex Mould defended the decision to secure the loan, saying “I know some people have been mischievous, saying that GNPC is raising this money to give to government. GNPC is not raising the money to give to government.”
By: Marian Efe Ansah/citifmonline.com/Ghana