Trafigura judgment debt should serve as a reminder of the need to respect sanctity of multinational & int’l pacts -IPPG Ghana CEO
Published:
3 months ago
Source:
3News
CEO of Independent Power Generators, Ghana (IPPG), Dr. Elikplim Kwabla Apetorgbor has said that Trafigura judgment debt should serve as a reminder of the importance of respecting the sanctity of multinational and international agreements, especially within the project finance realm of the power sector. The judgment debt, he said, highlights the critical need for Ghana to adhere to its contractual obligations. 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.