Audio By Carbonatix
The controversial STX Housing Project has suffered yet another set back.
Counsel for the Korean partners says his client has not yet received official instructions for STX HQ in the Korean capital of Seoul to accept a settlement offer.
At the last adjourned court proceedings it was agreed the Local STX agents led by BK Asamoah would pay off the Korean partners in order for the much awaited $1.5 billion housing project to start.
The STX housing project to construct 30,000 housing units for security agencies has been at the centre of endless controversies and boardroom squabble between the partners.
Several attempts by the government, led by Vice President John Mahama to resolve the differences between the local and Korean business partners did not yield any fruit, paving the way for court litigations.
A week ago, it was agreed the Ghanaian owners of STX would pay off their Korean counterparts to bring an end to the rumpus.
BK Asamoah was brimming with confidence and hope that the fight was over. He apologized profusely to the President and stated that the STX housing project would begin in earnest.
“With this settlement, I can assure him [President Mills] that we can now quickly move forward on this project and it will not have any effect on the timeline since we would engage more Ghanaians into the project,” he assured in an interview with Joy News.
However the case took a different turn in Court Thursday.
Joy News’ Sammy Darko reported that Counsel for the Korean partners has yet to accept a settlement offer.
Osafo Buabeng told the court he had not received any instructions from Seoul to accept any settlement offer even though he sent details of the offer for their perusal.
According to him, the Korean officials in Ghana cannot on their own accept a settlement offer except instructed to do so by their counterparts in Korea.
The judge is threatening to strike out the case for them to settle it on their own if a decision is not reached before December 14, which is the next adjourned case.
The posture by the Koreans has left the BK Asamoah more worried, Darko added.
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
-
Ghana Reference Rate dips to 10.03% in May, signalling possible loan rate cuts
18 minutes -
Gov’t evacuates man in viral South Africa xenophobia video attack
37 minutes -
From grain pickers to road works: How an Upper West tour shifted Agbodza’s focus
46 minutes -
Awoshie-Barnyard crash leaves four seriously injured, triggers heavy traffic
58 minutes -
Dog heads don’t prevent heartbreak – ICS debunks growing myth
1 hour -
Flying with two wings: Africa’s opportunity to strengthen economic governance
1 hour -
Callistus Mahama: Before the race begins; A call for discipline, reflection, and dutyÂ
2 hours -
Health Ministry blames procurement irregularities and payment dispute for Weija Children’s Hospital delay
2 hours -
Greater Accra Minister apologises over Northern posting remarks
2 hours -
Nigeria opposition alliance falters as two leading figures quit, clouding 2027 unity push
2 hours -
Oil prices ease as US pauses Project Freedom to seek deal with Iran
3 hours -
Mission is to preach peace, says Pope in response to Trump attacks
3 hours -
Nigeria supplies less than half of allocated crude to refineries in early 2026
3 hours -
Iraq offers May-loading crude at deep discounts for loading inside Hormuz
3 hours -
‘I thought he was going to hit me’ OpenAI co-founder says of Musk
3 hours