Woyome’s Trassaco and Abelemkpe properties valued at GHS11m by Supreme Court
- The Supreme Court has priced two of the properties of businessman Alfred Woyome earmarked for sale at a minimum of GHc 11. 7 million
- The properties which are residential facilities are located in Kpehe and Trassaco Valley were pegged at a minimum of GHc 3.4 million and GHc 8.3 million respectively
- The Supreme Court’s order paves the way for the auction of the properties in line with the decision by the court giving the state the permission to sell Mr. Woyome’s properties to offset part of the GHc47 million debt owed the state
The Supreme Court of Ghana has valued and ordered the sale of properties of businessman Alfred Woyome to offset part of the GHc47 million debt he owed the state.
The SC arrived at the minimum of GHc 11. 7 million for the properties in a unanimous decision.
The affected assets include two mansions at Trassaco Estate, a house at Kpehe where he resides, an office complex of Anator Holdings, a residential building at Abelemkpe and a stone quarry in the Eastern Region, including its plants and equipment.
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The court’s order now paves way for the auction of the properties.
The ruling followed claims made by the Receivers of defunct UT Bank that some of the properties identified by the state for sale was theirs.
According to the lawyers of the defunct UT Bank, Mr. Woyome used the said properties as collateral for loans at the bank which he failed to pay back.
A third property in Trassaco is expected to be valued for the Supreme Court to make a determination on it.
Mr. Woyome had sued the state for a breach of contract relating to the construction of stadia for the 2008 tournament and was awarded the default judgment because the state did not put in a defence.
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However, an Auditor General’s report released in 2010 said the amount was paid illegally to Mr.Woyome, who is a known National Democratic Congress financier.
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Source: YEN.com.gh
