According to Attorney General Godfred Dame, there isn’t a US court that is imposing judgment debt on the Ghanaian government. He clarified that the $111 million judgment debt case that the US court had granted to Ghana Power Generation Company was merely an enforcement order. He stated that the reason for the enforcement action is the nonpayment of a judgment obligation that arose from an award made back in January 2021.
A District of Columbia Court in the United States has granted a $111,493,828.82 judgment debt against Ghana in favor of the Ghana Power Generation Company (GPGC) after the Government of Ghana failed to completely abide by an earlier tribunal decision from the United Kingdom. Ghana was mandated to pay required post-judgment interest by the court when it granted the Motion for Default Judgment in favor of GPGC.
Recall that in 2021, a British court granted Ghana an arbitral award of $140 million in retaliation for ending a power agreement with GPGC. Furthermore, the government was requested to cover the arbitration’s expenses as well as GPGC’s legal fees, totaling more than $3 million. Deputy Attorney-General Alfred Tuah Yeboah stated that the state could not fulfill the installment payment arrangement even though a portion of the payment had been made.
Ghana only made partial payments of $1,897,692.40 in spite of the verdict, leaving a sizable sum due. Despite the fact that the judge did not issue GPGC pre-judgment interest, the court will nonetheless impose additional financial burden on Ghana by awarding post-judgment interest at the rate set forth in US statutes.
SOURCE: https://dew360.net
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