The New Patriotic Party (NPP) legislator described the publications as unfounded and factually incorrect.

In a statement, Mr. Hanson-Nortey asserted that the reports were part of an attempt to tarnish his reputation and mislead the public.

“This publication is one of several intricate plans being executed to tarnish my image,” the statement read.

Clarifying the situation, Mr. Hanson-Nortey recounted his tenure as the Managing Director of Apex Petroleum in December 2018, prior to his parliamentary career.

According to the MP, Apex Petroleum, an oil marketing company, entered into a business partnership with Boison Sapenu and D-Vet Ltd as part of an expansion strategy. This arrangement involved securing an insurance bond policy from Star Assurance, which was backed by a property Apex Petroleum had made clear belonged to a third party.

However, Mr. Hanson-Nortey noted that Star Assurance failed in its due diligence by accepting the collateral without proper verification. This negligence resulted in severe consequences, including Apex Petroleum losing its operating license and permits.

“In April 2022, and prior to knowing that Star Assurance had foreknowledge of the non-existent collateral, Apex Petroleum, on the advice of its lawyer at the time, agreed to pay Star Assurance an amount of GHC 10,500,000. This agreement was documented and entered as a consent judgment of the court,” the statement explained.

The MP further disclosed that investigations by the National Investigations Bureau (NIB) later uncovered new information about how accepting non-existent collateral had been used to defraud oil marketing companies.

As a result, Mr. Hanson-Nortey has instructed his new legal team to take steps to challenge and set aside the 2022 consent judgment.

“Star Assurance is simply trying to use all means at their disposal to enforce the consent judgment of 2022 and to leverage their media outlets to tarnish my reputation in the hope that I would buckle.

“Star Assurance is trying to enforce that same judgment, which is tainted with fraud, and which I am currently challenging in court. I wish to state that it is never true that I have been evicted from my house,” the MP emphasized.

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Read the full statement below:

RE: TEMA CENTRAL MP EJECTED FROM RESIDENCE OVER INSURANCE FRAUD.

My attention has been drawn to publications, purporting that I, Hon. Yves Niinoi Hanson-Nortey, have been evicted from my home. That is factually incorrect and seems to be an attempt to bring my name into disrepute and create erroneous impressions about me to the public.

This publication is one of several intricate plans being executed to tarnish my image.

The Facts of the Matter

In or around December 2018, prior to becoming a member of Parliament for Tema Central, and in my capacity then as a private citizen and a businessman, I was the managing director of a duly registered oil marketing company called Apex Petroleum. Apex Petroleum was doing very well in the Oil Marketing space and had employed several Ghanaian youth.

As part of our expansion programme, my company entered into a strategic partnership with another individual and another company called Boison Sapenu and D-Vet Ltd, respectively.

As part of this business arrangement, Apex Petroleum took an insurance bond policy from Star Assurance Company.

Aside paying the required bond premium, Apex Petroleum was asked to guarantee the bond with an asset and it is at this point that Apex petroleum limited also sought a bond collateral from the said Boison Sapenu, who brought documents of a landed property to be used as bond collateral.

It is imperative to note that right from the get go Apex Petroleum brought it to the notice of Star Assurance that the property did not belong to Apex Petroleum but belonged to a third party and per industry practice and policy Star assurance Limited at the least, owed it to itself and it’s client Apex Petroleum a fiduciary duty to perform the necessary due diligence to ensure that the collateral was clean.

However Star Assurance failed in its fiduciary duty towards Apex Petroleum, and accepted the non existent collateral. The breach of fiduciary duty by Star Assurance did not only leave Apex Petroleum in a precarious situation but also led to the company losing its operating licence and permit.

INVESTIGATIONS, NEW EVIDENCE, AND LEGAL ISSUES.

In April of 2022 and prior to knowing that Star Assurance had fore knowledge of the non existent collateral, Apex Petroleum on the advice of it’s lawyer at the time agreed to pay Star Assurance an amount of Ten Million Five Hundred Thousand Ghana Cedis (GHC10,500,000) with the said agreement reduced into writing and entered as a consent judgement of the court.

However, when the matter was investigated by National Investigations Bureau, new information was discovered about how the acceptance of non existed collaterals are used to defraud OMCs.

I, therefore, tasked my new lawyers to take steps to set aside the consent judgement of 2022.

It is in the light of this that I, Hon Yves Hanson and Apex Petroleum, have gone back to the courts to set aside the consent judgment on the grounds of new information and fraud.

Star Assurance is simply trying to use all means at their disposal to enforce the consent judgement of 2022 and to use their media outlets to tarnish my reputation in the hope that I would buckle. Star Assurance is trying to enforce that same judgement, which is tainted with fraud, and which I am currently challenging in court. I wish to state that it is never true that I have been evicted from my house.

Signed

Yves Hanson-Nortey
MP, Tema Central

Member of Parliament (MP) for Tema Central constituency, Yves Hanson-Nortey, has revealed why he rushed to the Speaker’s podium amid a heated brawl in the House on Monday.

The Tema Central MP, who was at the thick of affairs, said his motivation was to protect the sanctity of the office of the Speaker.

“It was becoming one too many so I was pushing them and even told them we should leave the seat alone because it is the second-highest office in Ghana.

“Bagbin himself has made us aware he is the number two in Ghana and any of us can occupy the seat in the future and it is also the fulcrum of our democracy, hence we needed to guard it,” he said on Asempa FM’s Ekosii Sen.

The MP is being hailed as ‘Hercules’ in the unfortunate brawl that occurred in the House on Monday, December 20, 2021.

Mr Hanson-Nortey was seen in a viral video shoving, pushing, and preventing angry Minority MPs who were bent on preventing the First Deputy Speaker from leaving his seat.

Ahead of voting on the controversial E-levy, the First Deputy Speaker, Joe Wise, excused himself during proceedings due to ill health.

Reacting to the development, the MP stressed it was unfortunate and must not be condemned in no uncertain terms.

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“We don’t need to insult the seat if we don’t agree on issues. I have been asking myself whether the Minority would have acted the same way they did towards Joe Wise if Bagbin was the one presiding,” he bemoaned.

Play the audio above:

Yves Hanson-Nortey was seen in a viral video shoving, pushing, and preventing angry Minority MPs who were bent on preventing the First Deputy Speaker from leaving his seat.

Ahead of voting on the controversial E-levy, First Deputy Speaker, Joe Wise, is said to have excused himself during proceedings due to ill health.

Majority Leader, Osei Kyei-Mensah-Bonsu, claims Joe Wise, also MP for Bekwai wanted to excuse himself to take his medication and not to partake in the vote.

But the National Democratic Congress (NDC) MPs disagreed claiming that it was a trick to enable him to vote for the E-levy. They attempted to stop Joe Wise from leaving to participate in the voting process.

This infuriated some New Patriotic Party (NPP) MPs who clashed with their colleagues; trading blows with each other.

The Tema Central MP, who was at the centre of the drama, said his motivation was to protect the integrity of Parliament.

He has now been christened ‘Hercules’ by members of the NPP who are pleased with his decision to match the Minority boot-for-boot.

“Parliament is an arena of brains not brawls so I decided to protect the Speaker from the Minority MPs,” he said in an interview on Accra-based Oman FM, Tuesday.

He could not fathom why the Minority will not demonstrate such conduct when Speaker Alban Bagbin is in the House but will seek to disrespect Joe Wise at any given opportunity.

The Tema Central MP also blamed the marshals in Parliament for not being proactive enough to prevent the Minority MPs from getting close to Joe Wise.

Mr Hanson-Nortey has vowed to protect Ghana’s democracy even to the peril of his life.

“We have to guard jealously Ghana’s democracy because that is the only thing we have,” he added.