The High Court (Commercial Division 2) in Accra has overturned a $33.3 million arbitral award that had been granted in favour of Ashanti Port Services Limited (APSL) against Justmoh Construction Limited in relation to the Boankra Inland Logistics Terminal Project.
Delivering judgment, Justice John-Mark Nuku Alifo set aside the arbitral decision issued on December 10, 2025, which had ordered Justmoh Construction to refund the multimillion-dollar sum plus interest and additional reliefs.
The ruling followed an application by Justmoh Construction under Section 58 of the Alternative Dispute Resolution Act, 2010 (Act 798), challenging the validity of the arbitration outcome.
Dispute rooted in stalled logistics project
The case stems from the Boankra Inland Logistics Terminal Project, a major national infrastructure initiative involving the Government of Ghana, the Ministry of Transport, the Ghana Shippers’ Authority, and the Ghana Ports and Harbours Authority.
Under a 2022 arrangement, APSL engaged Justmoh Construction as Engineering, Procurement and Construction (EPC) contractor for Phase 1A of the project.
However, APSL reportedly failed to secure the required financing to fully execute the agreement.
As part of a share subscription arrangement, GPHA transferred $33.3 million directly to Justmoh Construction as mobilisation funds to begin work.
The project later collapsed after the concession agreement was terminated in August 2023, when APSL failed to reach financial close. The government subsequently took over the project through GPHA.
Despite the termination, APSL proceeded to arbitration in December 2023 and secured an award directing Justmoh Construction to refund the funds.
Court identifies legal and procedural flaws
In its ruling, the High Court found fundamental defects in the arbitration process, concluding that APSL lacked legal authority to initiate proceedings because it did not obtain proper board approval at the time the case was filed.
The court further held that attempts to ratify the arbitration after the fact were invalid and could not cure the original defect.
It also ruled that APSL’s board was not properly constituted under its shareholders’ agreement, making its decisions on the arbitration legally ineffective.
Justice Alifo dismissed arguments that Justmoh Construction had waived its right to challenge jurisdiction by participating in the arbitration, stressing that jurisdictional issues cannot be legitimised through participation in proceedings.
Court: funds not recoverable as debt
A key aspect of the ruling was the court’s finding that APSL could not claim unjust enrichment, since the $33.3 million originated from GPHA as a share subscription and not as a loan to APSL.
The court further noted that APSL no longer had enforceable contractual rights over the project after its termination and government takeover.
It also held that APSL could not benefit from its own contractual breaches that contributed to the collapse of the arrangement.
Outcome
Based on these findings, the High Court nullified the arbitral award in its entirety, bringing a major legal setback to APSL and ending its attempt to recover the disputed $33.3 million through arbitration.
