Tsatsu Accuses IFC Rep

Prof. E.V.O. Dankwa, counsel for former Chief Executive Officer of the Ghana National Petroleum Company (GNPC), on Tuesday leveled allegations against the representative of the International Finance Corporation (IFC), accusing him of misdirecting the Fast-Track High Court.

According to Prof Dankwa, the IFC representative, Kizito Beyuo, who came to the High Court but failed to appear at the Court of Appeal, could not finish his allegations when Justice Willaim Atuguba, a Supreme Court Judge asked whether it was part of the matter at the court.

Counsel for Mr. Tsikata said the IFC representative used the law of the International Monetary Fund (IMF) in reference to the corporation when he said the corporation enjoyed immunity from the judicial process and therefore did not wish to waive it.

Prof Dankwa said this at the Supreme Court, where he had taken the issue on the immunity of the IFC for direction after the Court of Appeal threw out his application to compel the corporation to testify in the case in which Tsatsu is standing trial for casing financial loss to the state at the Fast-Track High Court.

The Attorney-General and Minister of Justice, Joe Ghartey objected to the application for advice by Tsastu at the Supreme Court on the IFC issue, on which ruling had already been given.

He was of the opinion that the rules on how to appeal on a matter when not satisfied with a decision by the Court of Appeal and the duration within which it should be done was clear, something which Tsatsu reportedly failed to do and rather sought to seek advice from the Supreme Court.

He prayed the court not to grant the application since it was misconceived, adding that the IFC was not a necessary party to the suit as it had made its position clear that it did not wish to waive the immunity it enjoyed.

The case has been adjourned to November 28, 2007 for ruling.
The High Court Judge hearing the substantive matter, Justice Henrietta Abban, agreed with the decision of IFC, stating that it could not be compelled to testify.

Other applications by the former GNPC boss included leave to amend certain portions of his grounds of appeal, which Joe Ghartey said he was not opposed to, while the substantive appeal has been slated for hearing on November 30, 2007.

Tsatsu is standing trial for causing financial loss to the state to the tune of ¢2.3 billion through a loan he guaranteed for Valley Farms using GNPC as its guarantor in 1991 from a French Company, Caisse Francaise de Development.

Valley Farms however defaulted in payment, compelling GNPC which acted as its guarantor to pay the loan.

He is standing trial also for misapplying public property.
The accused has denied the charges and is on self -cognisance bail.

Other judges in the matter include Justices Sophia Adinyira, R.T. Aninakwa, Julius Ansah and S.A. Brobbey, with Justice Atuguba presiding.

By Fidelia Achama