An application for interlocutory injunction on a $700 million loan agreement being entered into by the GNPC has been dismissed.

An Accra High Court Wednesday morning denied the application brought by three New Patriotic Party Members of Parliament.

MPs for Abuakwa South, Samuel Atta Akyea, Manhyia South Matthew Opoku Prempeh, and Old Tafo, Dr. Anthony Akoto Osei, argued the Ghana National Petroleum Corporation was engaging in an illegality by seeking to take the loan without Parliamentary approval.

A motion filed by Nana Bediatuo Asante, counsel for the plaintiffs on November 25, 2014 demanded four reliefs.

“A perpetual injunction restraining the Defendant whether by itself, contractors, workmen, agents, assigns, privies, servants and whomsoever of whatever description claiming through Defendant from contracting, securing, procuring or drawing down on a loan facility of USD 700 million or any other loan from any financial institution whether situate in Ghana or not or embarking on any project, works and programmes without prior parliamentary scrutiny and approval.”

They subsequently sought an interlocutory injunction on the loan which both the GNPC and government argued was being acquired lawfully.

The court, according Joy News’ Anny Osabutey who was in court, dismissed the application, holding that the GNPC as a statutory body was capable of acting on its own and did not need parliamentary approval in the kind transaction it is entering into which is the subject of the challenge.

The court also said the three MPs had failed to show how they would personally suffer any loss if GNPC proceeds to acquire the loan.

But the plaintiffs disagreed.

They told Anny Osabutey they will talk to their lawyers and consider appealing the decision.

Source: Joy Online