It appears the relationship between the brain and main front man behind the controversial STX Engineering and Construction deal, and the Korean investors who he introduced to the country, has gone sour.
Joy News can confirm that B. K. Asamoah is in court to stop moves by his Korean partners to remove him and another Ghanaian as directors.
B. K. Asamoah is credited largely for bringing about the STX building project that the Mills administration is hoping would provide accommodation to many Ghanaians.
In the motion that Joy News has sighted, the Director of STX Engineering and Construction Ltd wants the court to declare as illegal and wrongful, notices of an impending extraordinary meeting where he and another Director, J. B. Asafo Boakye would be dismissed.
Furthermore, he is asking the court to restrain the Korean investors from holding the meeting, which is expected to come off on June 13, pending the outcome of the suit.
Sources close to Joy News say the two Ghanaian directors had passed resolutions with a view to getting funding for the project in the absence of their Korean partners.
The sources explain that the move has been necessitated by the absence of funding from the Koreans, who are expected to finance majority of the project.
When the deal was approved by Parliament last year amidst some controversy, government had indicated that the bulk of financing would come from the Korean Infra Fund.
That is yet to materialize, and subsequently there have been indications that government is looking for funds from other sources.
But the Korean directors have allegedly opposed the move by the Ghanaian directors, saying they had no authority to do so and had intended to convene an extraordinary general meeting at which B. K. Asamoah and J. B. Asafo Boakye were to be removed as directors.
The motion to stop the extraordinary meeting and any attempts to remove the two directors is due to be heard on Friday.
Source: Joy News/Ghana
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