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General News of Thursday, July 25, 2019
Source: Graphic.com.gh
2019-07-25
Alfred Agbesi Woyome
Both badets owned by businessman, Alfred Woyome, were valued at at least 11.7 million ¢.
The badessment was established by a unanimous decision of the Supreme Court.
It will be recalled that in June, the Supreme Court ordered the sale of badets to pay the debt of 47.2 million GH ¢ that Mr. Woyome owed to the state.
The property that the court ordered to sell include two mansions located in the area of Trbadaco, a house in Kpehe where he resides, an office complex of Anator Holdings, a residential building in Abelemkpe and a stone quarry in the eastern region, including its facilities and equipment.
The court, with MA Bennin as sole judge, held that the property belonged to Woyome and that UT Bank's claim that the businessman had sold two houses of Trbadaco's estate to the bank to pay off his debt was a sham.
Once again, the Supreme Court ruled that Woyome's career was not used as collateral, as claimed by the bank and himself.
An amount of 60,000 GH ¢ has been allocated to UT Bank and Woyome.
Mr. Woyome repaid 4 million GH ¢ in November 2016 and promised to pay the remaining balance in quarterly installments of 5 million GH ¢ as of April 1, 2017, but did not fulfill his promise.
Context
On July 29, 2014, the Supreme Court ordered Mr. Woyome to repay 51.2 million GHAC to the state on the grounds that he had obtained the money under unconstitutional and invalid contracts concluded between the State and Waterville Holdings Limited in 2006 for the construction of stadiums for the 2008 Africa Cup of Nations, which Ghana hosted.
The court found that the contracts on which Mr. Woyome had made and received the complaint were contrary to Article 181 (5) of Ghana's 1992 Constitution, which provided that such contracts were to be concluded and approved by the parliament.
On March 1, 2016, Mr. Woyome asked the court to allow him three years to pay back the money, but the court refused to fulfill his wish.
Refund
However, it reimbursed 4 million GH ¢ in November 2016 and promised to pay the remaining balance in quarterly installments of 5 million GH ¢ as of 1 April 2017.
This did not materialize after the businessman started a litany of court cases in the Supreme Court to back up his case, all of which were dismissed.
In addition to fighting in the country, Mr Woyome has sought compensation from the International Court of Arbitration of the International Chamber of Commerce (ICC), based in Paris, France, and the African Court of Justice, based in Arusha, Tanzania.
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