SML vs GRA: Court grants preservation order in dispute over US$500 million investment

The High Court in Accra has issued a preservation order in favor of Strategic Mobilization Ghana Limited (SML) in a dispute over a US$500 million investment with the Ghana Revenue Authority (GRA). The order preserves SML's equipment installed at 25 fuel depots across the country, which includes Automatic Tank Gauges, ultrasonic flow meters, Remote Terminal Units, satellite equipment, and other technical infrastructure.

This decision comes after SML was asked by GRA to remove its equipment from the BOST depot. Corporate lawyer Cephas Boyuo of SML expressed confidence in the company's case, stating that the preservation order is a significant step in protecting the company's interests while the substantive dispute is resolved. The preservation order aims to safeguard the equipment pending the court's decision, preventing any interference that could prejudice the proceedings.

SML contends that it is entitled to recover its substantial investment, which was used in providing measurement, monitoring, verification, and auditing services within the petroleum and solid minerals sectors.