General News of Wednesday, 25 October 2023
Source: www.ghanaweb.live
2023-10-25Trafigura judgment debt: See the government of Ghana property that might be sold in the UK, the Regina House
The Regina House (photo credit: Manuel Koranteng)
The Government of Ghana (GoG) is likely to lose some of its properties in the United Kingdom (UK) after it lost a $140 million arbitral to GPGC; a subsidiary of international commodities company, Trafigura, for the termination of a power deal in 2021.
At least five properties of GoG in the UK were attached to the judgement, which Trafigura have
Read full articlebeen given the power to sell in order to raise the amount of money the court has ordered Ghana to pay them.
The High Commissioner of Ghana to the United Kingdom (UK), Papa Owusu Ankomah, has confirmed that the properties of the Government of Ghana in the country (UK) are likely to be sold due to a failure to pay judgement debt owed Trafigura.
He, however, indicated out of the five properties of Ghana in the UK that were attached to the judgement, only one is likely to be sold, the Regina House which is used for commercial purposes.
The remaining properties including the High Commissioner's residence, the High Commission and the chancery, are all being used for diplomatic purposes and are covered by diplomatic immunity.
Regina House is located in Central London. It is a six-story building which is managed wholly by the government of Ghana.
Currently, it's been rented by the Ghana International Bank, two other banks, and another commercial entity.
View a video and pictures of Regina House below (credit: Manuel Koranteng; JoyNews):
BAI/AW
You can also watch this episode of People & Places on GhanaWeb TV:
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