Home Economy Court Orders GT-Bank To Pay Kailondo US$3.2m

Court Orders GT-Bank To Pay Kailondo US$3.2m

by News Manager

By: Varney Dukuly

MONROVIA: The Civil Law Court Annex “B”, Sixth Judicial Circuit Montserrado County has adjudged the Guaranty Trust Bank (Liberia) Limited of being liable, with an order to pay for damages in the amount of Four Hundred Twenty Thousand United States Dollars (US$420,000.00) to local businessman George Kailondo.

The Court’s final judgment followed series of legal arguments arising from a complaint filed by Kailondo Petroleum, Inc., by and thru its Chief Executive Officer, Cllr. George B. Kailondo, against the GT Bank (Liberia), limited for illegally debiting his accounts for various amounts without authorization by him.

Kailondo also prayed the court to award General damages in an amount not less than two point five million (US$2.5m) for injury and tortuous action carried out by GT Bank by illegally debiting his accounts and destroying his business image through a non-compliance letter written on August 12, 2020, to all commercial banks.

The non-compliance letter, written on August 12, 2020, to all commercial banks, according to Mr. Kailondo, makes his various businesses appear as a ‘risky’ entities for doing business.

At the same time, Mr. Kailondo, as plaintiff claimed special damages in the amount of Four Hundred and Twenty Thousand United States Dollars (US$420,000.00), representing the balance of the money illegally debited from his accounts and being withheld by GT Bank, the Defendant.

Initially, however, the defendant in GT Bank (Liberia) limited filed a motion to dismiss the case on ground of ‘Lis pedens.’

In its motion to dismiss the case, the Bank say: “Prior to filling this suit, the plaintiff, as private prosecutor, filed a criminal action against the Defendant, by and through the Republic, for restitution of the amount it alleged was wrongfully debited by Defendant.

However, the Civil Law Court, in its ruling on the motion ordered the case to proceed on its merits to trial.

Interestingly, the court, after listening to the two sides of the arguments from opposing counsels mentioned that “Wherefore and in view of the above holding and finding, it is the determination and final judgment of this court that the claim of the plaintiff is hereby sustained and the defense and counter claim of the Defendant are overruled, denied and dismissed.”

The ruling, under the signature of his Honor, Yamie Quiqui Gbeisay, Sr., Assigned Judge Civil Law Court “B” states that the GT Bank (Liberia) Limited is also adjudged liable to pay to Cllr. George Kailondo, Chief Executive Officer of ‘Kailondo Petroleum’ for general damages in the tone of Three Million Two Hundred Fifty Thousand United States Dollars (US$3,250,000.00).

Judge Gbeisay, in his judgment, noted that the move is in response to all the inconveniences, losses and embarrassment caused the Plaintiff by the Defendant in the illegal debit or withdrawal from Plaintiff’s account and the damaging of Plaintiff’s reputation by the Defendant; “this court also rules that the Defendant is liable to pay all costs of these proceedings.”

The latest judgment from the Civil Law Court Annex “B” Sixth Judicial Circuit Montserrado County is in addition to GT Bank reported link to criminal activities with respect to customers saving accounts.

In September, 2020 the Liberia National Police nabbed two of GT Bank employees for allegedly stealing US850 thousand and L$10M from the account of Mr. Charles E. Sirleaf.

Employees Andrea Duobah and Genesis Davis were charged by the Liberia National Police with misapplication of entrusted property, theft of property, forgery, criminal facilitation, criminal conspiracy and forwarded to the Monrovia City Court at the Temple of Justice.

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