Bulk Oil Storage and Transportation (BOST) is expressing disagreement with an Accra High Court’s judgement on the payment of about ¢10 million to Hask Oil Company Limited.
This followed BOST’s alleged refusal to release the plaintiff’s petroleum products for sale to repay the credit facility.
The company was ordered by the court to pay the amount, as the interest accrued on a bank facility Hask Oil took, while their products were in the custody of the defendant.
In an interview with JoyNews, however, Head of Corporate Communications and External Affairs Malik Adjei explained the court has been unfair in its judgement.
“We are of the view that the substance of the case would surely be something that Ghanaians will be very much interested in the sense that we think, Hask Oil does not deserve to be paid extra money, after having taken the product from us. Yes the product has come, and we have taken a look at it, we are still in touch with our lawyers, the Board and everyone.
“We’re working around to ensure that fuel is not short in the process. We still firmly believe that what they claiming is not a fair transaction is not a fair deal, and we believe the Court erred in awarding them that judgement,” he said
Mr Adjei further highlighted that the company had already refunded all Hask products they had in their possession, which they believe gives Hask no basis to sue them.
JoyNews/AdomNews · BOST had already refunded all Hask products in our possession – Mr. Adjei
He also revealed that BOST has filed for an appeal in that regard.
“They had about 32,000 litres of gasoline with us. As of the time we were refunding to them because product price had changed, we gave them 74,000 litres, they had about 1.2 million litres of gasoline and we refunded to them like 2.3 million litres compensating for price variation, and everything so as far as we are concerned, we thought they have been given a full refund of everything they had with us and business continues. That was the basis of our appeal, and so we are looking at our best records we’ll look at that one,” he said.