U.S. court slaps Ghana with $111m judgment debt in favour of Ghana Power Generation Company
Published:
3 months ago
Source:
3News
Following the failure of the Government of Ghana to fully comply with an earlier tribunal decision from the United Kingdom, a District of Columbia Court in the United States has awarded a $111,493,828.82 judgment debt against Ghana in favour of the Ghana Power Generation Company (GPGC). The court, in granting the Motion for Default Judgment in favour of GPGC, also ordered Ghana to pay mandatory post-judgment interest. It is recalled that a court in the United Kingdom in 2021 awarded a $140 million arbitral against Ghana for the termination of a power deal with GPGC. The government was accordingly ordered by the court to make full payment of the value of the Early Termination Payment of $134,348,661 together with the "Mobilisation, Demobilization and preservation and maintenance costs" of the value. The court also ordered Ghana to pay all the interest that has accrued from it.