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Tuesday, July 5, 2022

Court adjourns NDK, Energy Ministry & Ahaman case to December 19


A commercial court has adjourned to December 19, hearing, of a contempt case by NDK Financial Services against the Chief Director and Principal Accountant at the Energy Ministry.

Though the two had appeared in court, the lawyers for both parties agreed to a suspension of hearing to Friday, December 9, 2016.

The motion, is seeking to compel the two to heed the court order to furnish it with details of accounts of payments made in breach of payment guarantees given to NDK Financial Services.

NDK is in court over a Supreme Court’s 88.5 million cedis judgement debt ruling in its favour, due to a breach of payment agreements by the Energy Ministry.

The company between 2005 and 2009 granted a credit facility to Ahaman Enterprise for the latter to undertake a rural electrification project.

The agreement was for payments to be channeled into a joint account operated by NDK and Ahaman Enterprise.

But the failure by the Energy Ministry (representing government) to comply with this directive compelled NDK to seek redress in court.

According to the financial institution, it had detected that some payments that were made were not made into the joint operated account.

In a related development, the Court of Appeal is expected to hear a case in which the Attorney General’s Department has filed a case to relist its stay of execution to halt the implementation of garnishee proceedings against the state.

The Bank of Ghana had also been expected to appear in court and justify why some accounts of government should not be frozen to pay the judgement debts awarded in favour of NDK.

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

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