https://www.myjoyonline.com/ikam-ceo-makes-arrangement-to-settle-debts/-------https://www.myjoyonline.com/ikam-ceo-makes-arrangement-to-settle-debts/
Economy

Ikam CEO makes arrangement to settle debts

The Chief Executive of Ikam, a private security printing firm, Mr Stephen Kwadwo Amoah-Marfo on Tuesday convinced an Accra Commercial Division of the High Court that he was making efforts to settle his indebtedness to Mr Duku Woode, a businessman. The Court, therefore, ordered him to deposit a photocopy of a title deed on one of his properties at Adenta as security on GH¢194,500 (¢1.945 billion) debt he has agreed to pay by the end of September 2007. Mr Amoah-Marfo had paid GH¢100,000 (¢1billion) as part of GH¢294,500 (¢2.945 billion) that another court presided over by Mrs Justice Margaret Insaidoo had granted as payment by instalment of GH¢1,178,300 (¢11.783 billion) debt Mr Amoah-Marfo owed Mr Woode. When the court asked Mr Amoah-Marfo on Tuesday why he had defaulted in paying the debt, he said his business was saddled with some problems, which he was sorting out and that he could pay GH¢194,500 (¢1.945 billion) by the end of September 2007. The Commercial Court presided over by Mrs Justice Gertrude Torkenu, therefore, demanded a security on the GH¢194,500 (¢1.945 billion) and Mr Amaoh-Marfo readily suggested his property situated at Adenta in Accra. The court, therefore, ordered Mr Amoah-Marfo, who was represented by Mrs Ntrakwah Mensah, to deposit the title deeds on the property at the court registry to enable it to consider the application Mr Woode had made for an order of variation of a default judgment. It adjourned the matter to September 20. Source: GNA

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