By: Barbara Kumah
A major legal battle is unfolding at the High Court in Accra, as a multinational engineering firm moves to wind up another over an unpaid judgment debt exceeding three million dollars. Top International Engineering Ghana Limited is seeking the liquidation of Euroget De-Invest S.A., citing years of failed attempts to recover the debt.
A petition has been filed at the General Jurisdiction Division 13 of the High Court in Accra by Top International Engineering Ghana Limited, seeking the official winding up of Euroget De-Invest S.A. over its inability to settle an outstanding judgment debt.
According to court documents, the action stems from a long-standing dispute between the two companies over hospital construction projects in Kumasi and Konongo. The disagreement was referred to arbitration at the International Commercial Court in 2021, where a judgment debt exceeding eight million dollars was awarded against Euroget.
That arbitral award was subsequently adopted by the High Court in Ghana, making it enforceable within the jurisdiction. However, despite several enforcement efforts—including a garnishee application targeting key state institutions—Top International has only been able to recover a little over four million dollars.
Lawyers for the petitioner, led by Peter Zwennes, argue that Euroget has failed to settle the outstanding balance even after a negotiated settlement agreement reached in March 2024.
They are now asking the court to declare the company insolvent and order its liquidation, with proceeds from its assets used to offset the remaining debt. The petition also seeks the appointment of an official liquidator to oversee the process.
When the case was called on May 4, there was no representation for Euroget De-Invest S.A. in court, despite being served with hearing notices.
The court has since ordered fresh service ahead of the next hearing date. Costs of two thousand Ghana cedis have also been awarded against the respondent company, with proceedings adjourned to May 19 for continuation.
