Trafigura ‘seizes’ Ghana’s Regina House in London over $134m judgment debt default
Published:
4 months ago
Source:
MyJoyOnline
Joy News can confirm that Oil conglomerate Trafigura's Ghana Power Generation Company has taken over one of the country's most important commercial properties, the Regina House in London, following the failure of the government to pay up a $134 million judgment debt. For four years Trafiguara has been unsuccessful in getting the government of government to pay up the judgement debt awarded to the energy firm after the abrupt termination of a power purchase agreement. This situation forced Trafigura to secure another Judgement in the United States courts which awarded a mandatory interest on the default of 111.4 million dollars which remains the arrears to be paid by the Republic of Ghana. Attorney General Godfred Yeboah Dame has told Joy News it is up to the Finance Ministry to expedite action on the payment. Following the latest Joy News report on the United States District Court ruling, Vice President of Imani Africa Bright Simons took to social media platform, X (Twitter) to state that one of Ghana's most important commercial properties, the Regina House in London has been taken over by Trafigura following the judgment debt award by a tribunal in the United Kingdom.