The residence of Zeepay founder and Chief Executive Officer Andrew Takyi-Appiah has been seized by judgment creditors under the supervision of the court and police, following the enforcement of a High Court Commercial Division ruling.
The action stems from a judgment delivered by Justice Afi Agbanu Kudomor, who granted summary judgment in favour of businessman Michael Yusuf against Zeepay and its CEO for the payment of over $11.6 million.
The court found that Zeepay and Mr. Takyi-Appiah had failed to establish a reasonable defence to contest the claims on their merits. The ruling was based on evidence including deposit records of large sums, correspondence between the parties, and the course of dealings involving Zeepay officers and its CEO.
In its assessment, the court held that the defendants “have not been able to raise a reasonable defence to the instant action to be allowed to contest Plaintiff Applicant’s claims against them on the merits.”
Following the ruling, the enforcement process led to the seizure of Mr. Takyi-Appiah’s residence earlier today, carried out by judgment creditors with court bailiffs and police oversight.
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