Samuel Okudzeto Ablakwa, the Member of Parliament for North Tongu, has unveiled additional documents purportedly exposing the true ownership of Labadi Beach Hotel’s beachfront.
Accusing the former National Chairman of the ruling New Patriotic Party (NPP), Freddie Blay, and his son Kwame Blay of orchestrating ‘grand state capture,’ Ablakwa alleges they falsely claimed ownership of the hotel’s beachfront.
In a recent social media post on Thursday, June 27, 2024, Ablakwa shared documents outlining an agreement involving a company linked to the Blays, Labadi Beach Hotel, and a third party concerning a joint venture covering the disputed beachfront.
He questioned the inclusion of Labadi Beach Hotel in the joint venture if it did not rightfully own the beachfront, asserting that the agreement’s breach resulted in substantial financial losses for the hotel.
Despite efforts by the hotel management to reclaim the disputed beachfront after the agreement’s dissolution, they faced formidable opposition, hindering their efforts.
“Insiders at the helpless Labadi Beach Hotel now regret signing this JV as they couldn’t have predicted at the time that it was all a trap meant to give Kwame Blay initial access. Remember, the JV was violently breached, causing Labadi Beach Hotel to lose substantial revenue even ahead of Labadi losing its beachfront.
“I am also attaching a statement by the management of Labadi Beach Hotel issued on November 13, 2023, following a Bright Simmons social media post about political heavyweights encroaching on the hotel’s beachfront. From the statement, Labadi Beach Hotel’s MD promised to reclaim its beachfront — unfortunately, the forces they came up against were just too powerful,” parts of the post read.
The documents presented by the MP revealed specifics of a collaborative agreement dated November 11, 2020, involving Gold Coast Expo Limited, Press Express Logistics Limited, and Labadi Beach Hotel Limited for the operation of “the Polo Beach Club.”
“Party 1 (Gold Coast Expo) and Party 2 (Press Express Logistics) organized the Polo Beach Club (the Beach Club), a pop-up beach club, over a period of 10 days at a portion of the Labadi beach under the easement rights of Party 3 (Labadi Beach Hotel Limited) and with the approval of La Dade-Kotopon Municipal Assembly (the Assembly).
“Party 1, Party 2, and Party 3 desire to develop, finance, operate, and manage the Beach Club permanently on a joint venture basis in accordance with the terms specified in this Agreement,” part of the document reads.
It added, “NOW THEREFORE, THIS AGREEMENT WITNESSES THAT in consideration of the premises and mutual covenants and agreements herein contained and for other good and valuable consideration, the receipt and sufficiency of which is acknowledged by each of the Parties, the Parties covenant and agree as follows.”
The document also detailed the terms for terminating the agreement, specifying conditions such as dissolution of the joint venture and the consolidation of participant interests by one party.
View the MP’s post plus the documents he shared below:
BAI/OGB