Michael Essien: Court Documents Reveal Full Details Of Ex-Footballer's Case
- A court in Accra ordered two mansions belonging to Michael Essien to be sold on June 12, 2024
- Rumours emerged that the former Black Stars player was broke, but sports journalist Saddick Adams clarified that it was not true
- Court documents detailing a lawsuit from Republic Bank against Michael Essien have emerged on social media
Court documents regarding the Accra High Courts' order to seize two mansions belonging to Ghanaian football legend Michael Essien have surfaced online.
Source: Instagram
Details from Michael Essien's court case documents
A report from GH Gossip 24 revealed that the Accra High Court ruled on Michael Essien's case after Republic Bank filed a lawsuit against the ex-footballer, his wife Akosua Puni Essien and Athena Real Estate Company on September 23, 2020.
Republic Bank filed the lawsuit seeking an order to take possession of Essien's two mansions and the right to sell the two properties.
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The court documents also revealed that Michael Essien, Akosua Puni Essien and Athena Real Estate filed for an out-of-court settlement on October 28, 2020, to which Republic Bank agreed.
According to the document, the two parties later met, and it was revealed that Michael Essien owed the bank $2,164,345 million.
The ex-footballer failed to pay the debt, which accrued interest and increased the debt to $2,310,343 million before both parties' next meeting on December 31, 2021.
In the next meeting, both parties agreed that Essien would also pay the bank's legal expenses, surveyors, and additional costs for recovering the house.
The bank also agreed with Michael Essien to find a buyer for one of the houses, estimated to be worth $20 million.
They also agreed not to sell the two mansions for an amount below their estimated value. However, the value of the two mansions would reduce by 20% if they were not sold in six months.
The parties also agreed to return to court if the properties were not sold in 12 months. Per the agreement, Republic Bank was granted access to the two properties.
The agreement also stated that Republic Bank would forgo any interest incurred but would instead charge legal fees and subtract any incurred cost from the sale of the properties from the amount gained.
The agreement was submitted to the courts and was signed by both parties. However, disagreements over the sale process and access to the properties resulted in the court case that ordered the sale of Essien's mansions.
Watch the video below:
Former Kotoko player refuses claims that Michael Essien is broke
Earlier, YEN.com.gh reported that former Kotoko player Kwadwo Poku Mahala rubbished claims that Michael Essien is facing financial difficulty.
In an interview with Poleeno Multimedia on YouTube, Kwadwo Poku said the court's ruling that Essien's houses should be sold does not mean he is broke.
He said he sees the former Chelsea player often, and nothing shows he is facing challenging times.
Proofread by Edwina N.K Quarcoo, journalist and copy editor at YEN.com.gh.
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Source: YEN.com.gh
