Monrovia – Sesay, Johnson & Associates, a law firm operated by Cllrs. Arthur Johnson and Swaliho Sesay, has threatened a legal law suit against the Liberia Bankers Association for action of damages after the association published their names among a listing of alleged bad debtors in a local daily.
“We were lawyers for UBA, we were lawyers for Global Bank; what is the Bankers Association also doing when banks have lawyers working for them and they refuse to respect the integrity of the lawyers. “
“We collected over US$2 million and they refused to pay us; we have to go to court. We’re in the debt court with Global Bank for over US$300,000 they have for us” – Cllr. Swaliho Sesay
The lawyers said they would pray the court for US$1.5 million in damages for the action of the Bankers Association.
Speaking to journalists, Cllr. Sesay said the Bankers Association failed to do due diligence by counter checking with those listed by the banks before publication.
The Association in its publication indicated that Cllrs. Johnson owed US$13,671.58 while Sesay has USD$13,433.57 at the United Bank of Africa.
However, Cllr. Sesay said, “We’re disappointed; we’re surprised because that is far from the truth. If the Bankers Association was sincere and not being biased; for accounting lawyers who have been in the robust collection of funds for banks in this country, we’re counted among the number”.
According to Sesay, his law firm had a contract with the UBA bank in which the bank mandated the firm to help collect its debts from defaulting clients in 2013 in which almost all the debtors were made to pay the bank.
“Based on this contract we made an arrangement with the bank in which the bank will pre finance so we took this loan which should have come from our 10 per cent when these recoveries are made…
“We were lawyers for UBA, we were lawyers for Global Bank; what is the Bankers Association also doing when banks have lawyers working for them and they refuse to respect the integrity of the lawyers. We collected over US$2-4 million and they refused to pay us; we have to go to court. We’re in the debt court with Global Bank for over US$300,000 they have for us. “
“Some of the money were paid out of court, some of the money are still being paid by people we won the case from; but the managing director has refused to pay us – we had to go to court; he said he wants full collection before he can paid, and that’s not the contract – that case is before the debt court. What has the Bankers Association done?” he asked rhetorically.
Cllr. Sesay also condemned the news story in the FrontPage Africa in regards to the publication of the Bankers Association, noting that it was meant to tarnish their image and reputation.
He called on the Bankers of Association to retract the story and seek clarity on the publication.
“UBA owes us, Global Bank owes us,” he emphasized. According to him, UBA owes the law firm up to US$39,000.00 which it is reneging to pay while they owe US$24,000.00.
Other legal practitioners named by the Bankers Association include former Chief Justice Gloria Musu Scott has allegedly failed to pay back $11,241.04.00 owed Liberia Bank for Development & Investment (LBDI).
Associate Judge of the Commercial Court, Chan-Chan Paegar, was said to be owing LBDI $24,900.73. The bank revealed receipt number 286867 as the transaction receipt slips from the Liberia Bank for Development and Investment (LBDI).
Also Kemp and Associates led lawyer, Cllr. Theophilus Gould, was also labeled as a bad debtors for owing the Ecobank Liberia over $47.672.89.00.
FrontPageAfrica has been able to independently verify the accusations by the Liberia Bankers Association.
The Liberia Bankers Association said it was publishing the names of bad debtors in an attempt to shame them for being chronic delinquents who are unwillingness to honor their arrangements with the banks.
The Bankers Association warned that unless these debts were settled, the debtors may be denied the privilege to do business with the bank.
The Association further stated that it would work with others banks in Europe and United States to further punish the debtors for their delinquency.