{"id":3481,"date":"2024-08-23T20:25:11","date_gmt":"2024-08-23T20:25:11","guid":{"rendered":"https:\/\/sbmediaonline.com\/?p=3481"},"modified":"2024-08-23T20:25:11","modified_gmt":"2024-08-23T20:25:11","slug":"yamoah-paintsil-possibility-of-post-judgment-negotiation-in-trafiguras-regina-house-seizure","status":"publish","type":"post","link":"https:\/\/sbmediaonline.com\/?p=3481","title":{"rendered":"Yamoah Paintsil: Possibility of Post-Judgment Negotiation in Trafigura’s Regina House Seizure”"},"content":{"rendered":"\n
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Private legal practitioner Kweku Yamoah Paintsil has indicated that there is still room for post-judgment negotiations between Trafigura\u2019s Ghana Power Generation Company (GPGC) and the government of Ghana regarding the seizure of the state\u2019s property, Regina House in London.<\/p>\n\n\n\n

According to him, even after a court ruling, the parties can negotiate terms and conditions.<\/p>\n\n\n\n

In an interview on Joy FM\u2019s Top Story<\/strong>, Mr Paintsil explained that negotiations can continue under international law, suggesting that while the seizure of property is ongoing, it is not an unusual process.<\/p>\n\n\n\n

\u201cOnce the properties are there, they [Trafigura] would process but this one ends on post judgement negotiations. Even when you\u2019ve got a judgement debt, you can always proceed. I mean, there is always room for negotiations even on international law for the parties to enter post judgement terms,\u201d he said.<\/p>\n\n\n\n

He suggested that the government could be negotiating behind the scenes, though it might not be public knowledge.<\/p>\n\n\n\n

Ghana\u2019s debt to Trafigura followed a termination of a power purchase agreement between Trafigura\u2019s GPGC and the Ghanaian government.<\/p>\n\n\n\n

The dispute began when Ghana terminated the agreement in February 2018, leading a UK tribunal to rule on January 26, 2021, that Ghana had breached its obligations.<\/p>\n\n\n\n

The tribunal awarded GPGC $134 million in damages, with additional costs and interest. Despite partial payments, Ghana still owes over $111 million.<\/p>\n\n\n\n

Following Ghana\u2019s failure to settle the debt, a U.S. court granted a default judgment, and Trafigura\u2019s GPGC has seized Regina House, a key Ghanaian property in London.<\/p>\n\n\n\n

When asked if the High Commissioner\u2019s car could be seized and whether this might provoke a diplomatic conflict, the private legal practitioner explained that it is theoretically possible, depending on the circumstances.<\/p>\n\n\n\n

He noted that while the car is Ghanaian property and could be taken, there are typically legal limits on what assets can be seized, especially under domestic law.<\/p>\n\n\n\n

\u201cI don\u2019t believe it will come as low as to attach the High Commissioner\u2019s car but in theory yes, they can do that,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Private legal practitioner Kweku Yamoah Paintsil has indicated that there is still room for post-judgment negotiations between Trafigura\u2019s Ghana Power Generation Company (GPGC) and the […]<\/p>\n","protected":false},"author":2,"featured_media":3482,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3481","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3481","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3481"}],"version-history":[{"count":1,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3481\/revisions"}],"predecessor-version":[{"id":3483,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3481\/revisions\/3483"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=\/wp\/v2\/media\/3482"}],"wp:attachment":[{"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3481"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3481"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sbmediaonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3481"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}