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Court adjourned GNPC $700 million loan case

  • SOURCE: | Editor
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    The case in which three MPs are seeking to stop the Ghana National Petroleum Corporation (GNPC) from acquiring a $700M loan without Parliamentary approval took off at Commercial Court ‘A’, presided over by Justice Janapare A. Bartels-Kodwo (Mrs.) on Wednesday, 3rd December, 2014.

    Tony Lithur, lead Counsel for the Defendants informed the Court when the case was called that they had filed their Statement of Defence on Tuesday.

    However, since Plaintiffs had not been served he asked for a short adjournment to Monday, 8th December, 2014.

    The parties, however, agreed on Wednesday, 10th December for a hearing of the motion for Interlocutory Injunction.

    Lead Counsel for Plaintiffs, Nana Bediatuo Asante, sought an Interim Injunction to restrain the Defendants from taking further steps in pursuit of the $700M loan it is seeking to raise until the case is determined by the court.

    But Lithur opposed it saying, GNPC as a statutory institution was mindful of its obligations.

    The Court held that the Plaintiffs should wait to be served with the statement of defence and therefore adjourned to Wednesday, 10th December, 2014.

    The plaintiffs are challenging the legality of GNPC’s decision to secure a loan of $700 million wihout Parliamentary approval.

    The three MPs, Dr. Anthony Akoto Osei, Samuel Atta Akyea and Dr Mathew Opoku Prempeh are convinced the transaction is illegal and are praying the court to declare it null and void.

    But the head of GNPC Alex Mould insists the transaction is legal and has the full blessing of government’s chief legal advisor- the Attorney General.

    Source:Ghana Web

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