Supreme Court orders State to pay ¢14,689 judgement debt to NDK Financial Services

A five-member panel of the Supreme Court presided over by Justice Kwasi Anin Yeboah has awarded ¢14,689 Judgment debt to NDK Financial Services Ltd instead of ¢1.2 billion it made against the State.

By unanimous decision, the Court said the State should pay an interest at the prevailing rate from 28th November 2014 to the date of payment to NDK.

The Chief Justice said full reasons for the judgment would be made available to the registrar on the fourth of this month.

The apex court earlier appointed Price Water House Coopers Ghana, an accounting firm, to ascertain the accuracy of the over ¢1.2 one billion claims being made by NDK Financial Services Limited against the government through the Ministry of Energy.

The State, represented by the Attorney-General and the private firm, were then ordered by the Court to prepare legal accounts for the auditing firm to work with. That auditing was to verify how much the State has been able to pay through the Bank of Ghana and whether NDK is still entitled to more payments amounting to about ¢1.2 billion as judgment debt.

The apex Court’s order followed an application by the AG insisting that the State had fulfilled all financial obligations to NDK with regard to certain payments and interests based on the Court’s order.

By: Yvonne Asare Offei.

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