By Lincoln G. Peters
The management of Mutual Benefits Assurance Company (MBAC) on Friday, April 21, 2023, escaped a writ of execution over an action of debt worth more than US$ 11,226,573.85 by the Commercial Court of Liberia.
The writ of execution was issued and approved by Commercial Court Judge Eva Mappy Morgan to Emmanuel Morris, acting sheriff of the court, or his deputy for implementation.
A sheriff of the Commercial Court, well dressed in his uniform was seen with locked and chain in a black plastic bag at Mutual Benefits Assurance Company to execute the order.
The execution was prevented due to the absence of the management of the company to receive the writ.
However, the sheriff demanded to close the building but was unable due to the absence of the management.
“You are hereby commanded to seize and expose for sale the land, goods and chattels Mutual Benefits Assurance Company in the above cause of action; If the sum realized therefrom be not sufficient to pay the reasonable expense of said seizure and sale, then seize the real properties until it shall have raised the sum of eleven million, two hundred twenty-six thousand, five hundred seventy-three United States Dollars (US$11,226.573,85).
However, if you can’t find any assert, of interest, land, goods, and chattels of the defendant, you are hereby ordered to bring Mutual Benefits Assurance Company before the judge of this court to be dealt with in keeping with the law” the Writ of execution stated.
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It can be recalled that plaintiff Bea Mountain Mining Corporation (BMC) filed a lawsuit against Mutual Benefits Assurance Company over the execution of Construction Contracts in favor of Aureus Mining.
MBAC issued various bonds for and on behalf of International Construction Engineer (ICE) But, Aureus Mining demanded payment on the bonds when ICE breached the contract.
However, ICE denied Aureus Mining’s allegations of breach and countered claim.
The matter was submitted for Arbitration between ICE and Aureus and an arbitral award was rendered in favor of Aureus Mining.
Aureus now seeks to collect from MBAC about US$14,000,000.00 on the bonds MBAC issued. BMMC now filed an Action of Debt against MBAC to collect 14M, a judgment entered against MBAC in accordance with award plus interest.
The writ under the signature of J. Amos F. Gbowah, clerk of the court, instructed that upon receiving from said sale or otherwise, said sum of money, they are further commanded to pay over to the above name plaintiff.
” And upon receiving from said sale or otherwise, said sum of money, you are further commanded to pay over to the above-named plaintiff in these proceedings, the sum of money necessary to satisfy the judgment herein, and reserve unto yourself the said costs of court and you will make your official returns endorsed on the back of this writ as to the form and manner of its service” the writ concluded.-Edited by Othello B. Garblah
