The Player Status Committee has ruled the Porcupine Warriors breached the terms of his contract.
The ex-Ghana international was sacked in July this year, just nine months into his three-year contract.
He dragged the club to the Ghana Football Association demanding his 2 years salary, league trophy cash, and CAF Confederations Cup group stage entitlements.
The Player Status Committee ruled that the club was not justified in terminating the contract of the former Hearts of Oak gaffer.
Both parties are yet to be furnished with a copy of the ruling.
Akonnor rejected an offer to head the club's technical directorate and left his post under bitter circumstances.
The gaffer had been in charge for a close to a year having had stints with Kotoko sworn rivals Hearts of Oak and regional rivals Ashantigold.
He had also coached Dreams FC and Eleven Wise.