Ghana has been saved from paying GHC1.27 billion as judgement debt to NDK Financial Services Limited.
NDK Financial Service has made claims that it was entitled to the said amount as judgement debt following a judgement by the Supreme Court.
However, a five-member panel of the Supreme Court, presided over by Chief Justice Anin Yeboah, unanimously held that government only owed NDK Financial Services GHC14,689.75 as outstanding debt.
The Apex Court, therefore, ordered the state to pay the interest on the GHC14,689.75 at the prevailing bank rate commencing November 14, 2014 to the day of the final payment.
The court said the full reasons for the judgement would be ready by June 4, this year, at the Court’s Registry.
The State, represented by the Attorney General, Mr Godfred Yeboah Dame, opposed the NDK claims saying that all outstanding payment to the company had been dealt with.
In March 2019, the Apex Court appointed PricewaterHouse Coopers Ghana, an accounting firm, to ascertain the veracity of the GHC1.27 billion claims of the NDK Financial Services against the Ministry of Energy.
It ordered the Attorney General and NDK Financial Services to prepare accounts for the PricewaterHouse Coopers to work with.
Members on the panel were Justices Victor Jones Dotse, Paul Baffoe Bonnie, Sule Gbedegbe (Retired), and Nene Amegatcher.