Private legal practitioner Kweku Yamoah Paintsil has indicated that there is still room for post-judgment negotiations between Trafigura’s Ghana Power Generation Company (GPGC) and the government of Ghana regarding the seizure of the state’s property, Regina House in London.
According to him, even after a court ruling, the parties can negotiate terms and conditions.
In an interview on Joy FM’s Top Story, 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.
“Once the properties are there, they [Trafigura] would process but this one ends on post judgement negotiations. Even when you’ve 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,” he said.
He suggested that the government could be negotiating behind the scenes, though it might not be public knowledge.
Ghana’s debt to Trafigura followed a termination of a power purchase agreement between Trafigura’s GPGC and the Ghanaian government.
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.
The tribunal awarded GPGC $134 million in damages, with additional costs and interest. Despite partial payments, Ghana still owes over $111 million.
Following Ghana’s failure to settle the debt, a U.S. court granted a default judgment, and Trafigura’s GPGC has seized Regina House, a key Ghanaian property in London.
When asked if the High Commissioner’s 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.
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.
“I don’t believe it will come as low as to attach the High Commissioner’s car but in theory yes, they can do that,” he added.