PDS $390m case: London panel ruling favours ECG, brings relief to GoG
All claims brought against Electricity Company of Ghana (ECG) by Power Distribution Services Ghana Limited (PDS) have been dismissed by an international arbitration tribunal.
The emphatic legal victory in London, UK, came via a ruling issued in the nearly three-year dispute over the controversial termination of the PDS concession agreement.
PDS was once touted as a renaissance in Ghana’s power distribution sector.
After comprehensive legal arguments and hearings, every PDS claim advanced was rejected by the London-based panel. They, however, upheld ECG’s position in ending the concession over fraudulent guarantees struck at the core of the agreement.
The development brings relief for ECG, and shields the Government of Ghana (GoG) from forking up hundreds of millions of dollars had the ruling gone against the national power distributer.
Read: ECG officially severs ties with PDS
Read: PDS weighs legal options against GoG over deal termination
Read: PDS sues gov’t for terminating contract – Oppong Nkrumah reveals
Source: classfmonline.com
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