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Ghanaian Court Makes Politician Pay Up
An African politician is learning the hard way what happens when you don't make your lease payments. The Ghanaian press is reporting that the newly elected chairman of the country's National Democratic Congress is on the verge of financial ruin after a high court began auctioning off his property.
The action against Dr. Kwabena Agyei was taken following his failure to pay back a lease facility granted him by the Ghana Leasing Company, reports Ghana News Today.
According to the article, Agyei entered into a lease agreement with Ghana Leasing in April 2000 when he was a Cabinet Minister in Parliament. But Agyei quickly defaulted on the lease, which was reportedly for industrial printing equipment for his company, AC&P Printing and Promotions Ltd.
Ghana Leasing sued in 2002, but when Agyei failed to show up in court an Accra High Court ordered an auction house to begin selling his property.
Ghana News Today reports Agyei has hired a lawyer who succeeded in winning him temporary reprieve and has since begun making payments to the law firm representing Ghana Leasing Company.
Wednesday, January 11, 2006
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