Audio By Carbonatix
The Chief Executive of Ikam, a private security printing firm, Mr Stephen Kwadwo Amoah-Marfo on Tuesday convinced an Accra Commercial Division of the High Court that he was making efforts to settle his indebtedness to Mr Duku Woode, a businessman.
The Court, therefore, ordered him to deposit a photocopy of a title deed on one of his properties at Adenta as security on GH¢194,500 (¢1.945 billion) debt he has agreed to pay by the end of September 2007.
Mr Amoah-Marfo had paid GH¢100,000 (¢1billion) as part of GH¢294,500 (¢2.945 billion) that another court presided over by Mrs Justice Margaret Insaidoo had granted as payment by instalment of GH¢1,178,300 (¢11.783 billion) debt Mr Amoah-Marfo owed Mr Woode.
When the court asked Mr Amoah-Marfo on Tuesday why he had defaulted in paying the debt, he said his business was saddled with some problems, which he was sorting out and that he could pay GH¢194,500 (¢1.945 billion) by the end of September 2007.
The Commercial Court presided over by Mrs Justice Gertrude Torkenu, therefore, demanded a security on the GH¢194,500 (¢1.945 billion) and Mr Amaoh-Marfo readily suggested his property situated at Adenta in Accra.
The court, therefore, ordered Mr Amoah-Marfo, who was represented by Mrs Ntrakwah Mensah, to deposit the title deeds on the property at the court registry to enable it to consider the application Mr Woode had made for an order of variation of a default judgment. It adjourned the matter to September 20.
Source: GNA
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Nana Aba Anamoah rates Mahama’s performance
12 minutes -
Woman found dead at Dzodze
43 minutes -
Nana Aba Anamoah names Doreen Andoh and Kwasi Twum as her dream interviewees
1 hour -
Religious Affairs Minister urges Christians to embrace charity and humility as Lent begins
3 hours -
Religious Affairs Minister calls for unity as Ramadan begins
3 hours -
Willie Colón, trombonist who pioneered salsa music, dies aged 75
3 hours -
Ga Mantse discharged from UGMC following Oti Region accident
4 hours -
Guardiola tells team to chill with cocktails as Man City pile pressure on Arsenal
4 hours -
Majority blasts Minority over Burkinabe border bloodbath claims
5 hours -
Analyst says Burkina Faso killings were a calculated signal to Ghana
6 hours -
Veep extends Ramadan greetings, donates to Cape Coast Central Mosque
7 hours -
Watch the moment President Mahama visited the Ga Mantse at UGMC after horrific accident
7 hours -
UBIDS secures $6.6m prefabricated classroom complex to end space deficit
8 hours -
Gold Fields Ghana Foundation deepens childhood cancer awareness drive; invests $4.8m in community health
8 hours -
Iran students stage first large anti-government protests since deadly crackdown
9 hours
