Following reports that some of Ghana’s assets in the United Kingdom risk being sold to defray a judgement debt owed to a Singaporean company, Joy News’ Manuel Koranteng has visited the site of one of the buildings in London.
According to the reports, the Ghana High Commission building in the UK which provides visa and other services, the commissioner's residence, the Ghana International Bank building, and other properties are at risk of being auctioned to defray a $140 million judgment debt awarded to Trafigura.
Trafigura, the majority owner of GPGC, a power company secured the award in January 2021 after an arbitral tribunal found that Ghana had unlawfully terminated a contract for the installation and operation of two power plants.
The government says the Finance Ministry has already taken steps to liquidate the debt.
However, according to Ghana’s High Commissioner to the United Kingdom, Papa Owusu Ankomah the only property that has been attached so far is the Regina House which hosts the Ghana International Bank and other institutions.
Despite this action, the High Commissioner to the United Kingdom says the bank and other occupants of the building are still functioning.
Joy News’ Manuel Koranteng visited the Regina House in London.
Watch the video below.
Latest Stories
-
T-bills: Interest rates increased for first time since January 1; government fails to meet target
24 mins -
Ghana retains 10th position with lowest fuel price in Africa
32 mins -
Will Ghana’s democracy stand the test of time in the 2024 elections?
4 hours -
Hindsight: Dreams fairytale run proved one thing; it is possible
5 hours -
God makes rulers, not you; you can’t choose your successor – Mahama to Akufo-Addo
6 hours -
Contributors own SSNIT, they must decide who becomes its Director-General – Austin Gamey
7 hours -
Move away from theory-based learning towards practical learning approaches – AUCC President to students
7 hours -
Haaland scores as Manchester City beat Nottingham Forest
8 hours -
Villas-Boas elected Porto president
8 hours -
Situation on frontline has worsened, Ukraine army chief says
8 hours -
US doctor describes witnessing starvation in northern Gaza
8 hours -
CAFCC: RS Berkane make final after USM Alger refused to play 2nd leg over Moroccans’ jersey
8 hours -
Elon Musk in China to discuss enabling full self driving
8 hours -
PSG clinch Ligue 1 title after Lyon’s win over Monaco
11 hours -
Guinness Ghana sets the pace at Ghana Beverage Awards with six awards
11 hours