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Civil Law Court orders writ of execution on ECOBANK Management

Fabine Kwiah/Maximilian Kasseh, Jr.
Civil Law Court,Temple of  Justice,Republic of Liberia
Civil Law Court,Temple of Justice,Republic of Liberia

MONROVIA, LIBERIA-The Civil Law Court at the Temple of Justice has ordered a writ of execution on the Management of ECOBANK, and all its corporate officers for failing to affect an appeal within ten days as required by laws.

The amount in question for damages for wrong towards Mr. Austen Clarke is one- million-eighty-thousand United States dollars, and twenty- thousand five- hundred Liberian dollars.

The writ further said they are to seize and expose for sale the lands, goods, and chattels of the bank, and if the sum realized, therefore, may not be sufficient then their real property until the sum is raised.

Records show that unless they pay the said amount of money or show property to court to seize and sell for same.

The court said in addition thereto seizure and sale, if the sheriff cannot find said lands, goods and chattels of the defendants who are ECOBANK and others; they should arrest them and bring them before any Judge of competent jurisdiction to be dealt with according to law.

On September 14, the court rendered final judgment of liable against the bank, which they excepted and announced an appeal to the Supreme Court in its October term, and was granted as a matter of right.

The defendant ECOBANK, through their legal counsel Sherman and Sherman, filed a motion for new trial on September 18, 2017, and argued that the ten days do not apply in the instance case and argued that the case was bench trial, and as a bench trial the Judge final judgment is both verdict and final judgment.

Mr. Clarke applied to ECOBANK for a loan which was granted May 2006, but before granting the loan, they requested that he Clarke meet certain conditions, among which included executing a legal mortgage five times the value of the loan.

In a 13 count document, Clarke claimed that a Swedish company he entered into with contract agreed to pay the bank shortly, but payment was delayed, and without any reference from the bank May 2013, while on personal errand, he was arrested at the court, handcuffed and sent to South Beach.

Mr. Clarke said the action of the bank led him to huge losses, brought him to public disgrace, and treated him as common criminal on grounds that he owed ECOBANK, and defrauded secured creditors.

The Civil Law Court ordered the writ of execution on Thursday, October 19, 2017.


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