Ghana SOW 02 04 2022_Redacted.pdf

Export-Import Bank of the US 811 Vermont Ave., NW Washington, D.C. 20571

February 2, 2022

COR Memo to the File

There is a need to create a follow-on contract with the Bentsi-Enchill law firm in Ghana on Case G074873/ for the continuation of the recovery of a defaulted loan (a U.S.

Government Asset) through litigation and execution proceedings. This will be utilizing FAR 16.505(b)(2)(ii)(A) Logical Follow-On.

The current contract is EXIM-17-P-0035 and is expiring on 05/04/2022.

Litigation in Ghana frequently runs multi-years which has been the case in this matter.

Judgement was obtained several years ago. The law firm continues to attempt to identify assets such as real estate and banking accounts; and the law firm continues to investigate our ability to convert those assets in Ghana into cash. Moving from the present vendor to another vendor is not recommended due to ramp up issues, transfer of files and intellectual knowledge, Power of Attorney issues and reputational/retention issues associated with working with our unique vendors. Transferring this credit to a different law firm would cost additional time for the new firm to learn the credit and history of this transaction. This additional time would be likely to reduce the eventual recovery for the taxpayer because assets depreciate, and debtors would have additional opportunity to dissolve and hide assets. The Bentsi-Enchill law firm is located in Accra in the jurisdiction of the debtor, Hydraform. In addition to the usual lengthy judicial proceedings in Hydraform, one factor has added to the length of the case, COVID causing significant backlogs in the court system

The Purchase Request (“PR”) shows a minor adjustments from contract EXIM-17-P-0035 to to the new PR due to new probabilities of recovery.

There is also the need for an additional estimated $1,000 in due diligence fee.

Senior Recovery Officer