The Supreme Court in a unanimous decision has pegged the minimum value of two properties belonging to the businessman, Alfred Woyome, at GHS11.7 million.
A third property is to be valued by the Lands Valuation Board and the report submitted to the court by August 30.
Last month, the Supreme Court ordered the sale of the assets of Mr Woyome to defray the ¢47.2 million debt he owes the state.
Assets to be sold include two mansions at Trassaco Estate, a house at Kpehe where he resides, an office complex of Anator Holdings, a residential building at Abelemkpe and a stone quarry in the Eastern Region including its plants and equipment.
The court, with Mr Justice A. A. Bennin as the sole judge held that the properties belonged to Woyome and that the claim by UT Bank that the businessman sold two houses at Trassaco Estate to the bank to defray his debt was a sham.
The Attorney-General’s office in an application had urged the court to adopt GHS14.9 million as the minimum value for three properties.
Lawyers for the businessman, however, filed a response contesting the values provided by the Land’s Commission.
Deputy Attorney-General, Godfred Yeboah Dame, on Thursday urged the Court to adopt the figures submitted by the businessman saying they are not entirely different from what the Lands Commission had submitted.
But lawyers for the businessman had not submitted values for the third property leaving the Supreme Court to order that it is valued once again.
The case has been adjourned to October 16.