Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Court adjourned GNPC $700 million loan case

court_14

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

Profile photo of Editor
Follow Us

Editor

Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
Profile photo of Editor
Follow Us

Share this article

Leave a reply

Personality of the Month
  • Prof. Thomas Mba Akabzaa Chief Director of Ministry of Petroleum          …
Follow Us Online
Join the Discussions

Summary: Revenue mobilization from the oil sector for Agricultural production in Ghana, a myth or reality?

Agriculture, once considered the backbone of Ghana’s economy recorded a reduction of its contribution to GDP from 45% in 1992…

Responses Add your response


About Us
Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
Events Calendar
<< Aug 2017 >>
MTWTFSS
31 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3
Twitter Activity Stream
 

Partners We are proud to be associated with:

Skip to toolbar