An Accra High Court has extended the deadline for which founder of defunct Capital Bank must repay monies owed the state.
In court on Wednesday, May 17, counsel for Ato Essien filed an affidavit urging the court to extend deadline for payment of the first tranche of money he was to pay on April 28th.
In the said affidavit, the lawyers noted that some of Ato Essien’s assets would be liquidated and sold while an amount of $300,000 was expected by the convict to defray the amount.
But Deputy Attorney General clarified that per the agreement earlier, Ato Essien was to pay the full amount upon default of the first tranche, making the amount to be paid now GHC55m.
Presiding Judge Eric Kyei Baffour noted that he is inclined to adjourn the case in order to give Ato Essien a lifeline to be able to repay the said amount.
If I were to allow the learned Dep AG to move the application, I’ll be compelled to deliver my ruling in respect of the application. Taking notice that the convict has taken steps to liquidate some aspects in Essien’s Ways International Holdings for which he is the sole shareholder and is expecting huge sums of monies as he has indicated in the affidavit for which he has deposed.
“If indeed the depositions in the affidavit have been made bona-fide time will vindicate that. Accordingly I will hasten slowly and adjourn the application to July 4, 2023 to enable the convict to redeem the monies outstanding. And as agreed per the requirement with the Republic,” Justice Kyei Baffour ruled.
Deputy Attorney-General, Alfred Tuah Yeboah did not oppose to the stance by the Judge but drew the attention of the court that the amount the convict was promising would not be enough to defray the outstanding amount.
Source: MG Digital