Monrovia – The Sesay, Johnson & Associates Law Chambers has filed a double lawsuit against the United Bank of Africa (UBA) and Liberia Bankers Association at the Civil Law Court and the Commercial Court at the Temple Justice for branding them as bad barrowers.
A week ago, the Liberia Bankers Association shamed several lawyers include Cllr. Arthur Johnson and Cllr. Swaliho Sesay as a bad debtors.
The umbrella institution of all bankers claimed that Cllr. Johnson and Sesay credited US$13,671.58 and US$13,433.57 from the United Bank of Africa, respectively.
LBA said it is publishing the names in an attempt to shame the debtors for being chronic delinquents who were unwilling to honor their arrangements with the banks.
The Association revealed that it could work with others banks in Europe and United States to further punish the debtors for their delinquency.
But Sesay, Johnson & Associates Law Chambers Friday, November 18, 2016 submitted an 11-count action of damage for wrong against the UBA & LBA in the amount of US$1.5 million at the Civil Law Court as well as US$109,984.00 at the Commercial Court at the Temple Justice.
Plaintiffs informed the Court that in 2013, they were contracted through a retainer agreement with UBA to collect their loans from its delinquent customers out of which the amounts retrieved from UBA’s delinquent customers would be used on percentage basis to pay the Plaintiffs, ranging 10% and 7.5% to 3.4%.
Plaintiffs also said that as a consequence of the retainer agreement entered into by both parties, UBA gave them the list of delinquent customers with the total number of 79 customers but stated 73 customers in its letter to the lawyers.
The 73 customers’ accumulated amount was approximately US$1,099,842.89.00 and the percentage payment to be awarded to Plaintiffs as per the contract/agreement between Plaintiffs and UBA were approximately US$109,984.00.
They further said that recovery effort exhibited by the Plaintiffs as authorized by UBA was to use the approach of phone calls and communications to the bank’s delinquent customers requesting them to fulfill their obligations with the bank.
The lawyers further indicated that this was strictly implemented by them thereby avoiding Court proceedings in which all of the UBA delinquent customers settled their obligations with the bank.
They revealed that since the retrieval of UBA loans from its delinquent customers, as of the date of all contract in 2013 to present, the bank had neglected and refused to settle them which in their minds, the action of the bank was intentionally exhibited so as to astronomically increase their (Sesay & Johnson) Managing Partner’s loans with the bank. The loan was in the tone of US$10,000.00 and US$11,000.00, respectively.
According to them, it was orally agreed in 2013 between the Plaintiff and UBA Managing Director and Recovery Officer, Benjamin Quaya that the amount to be paid to the Plaintiffs growing out of the commission payment or the retainer agreement would be deposited in their accounts at 50%.
They further stated that after these discussions were held and agreed upon since 2013, the bank refused after payment was made by the bank’s delinquent customers.
In 2014 to 2015, the Plaintiffs communicated with the bank to transfer its commission or retainer payment as per the contract to the separate accounts of Plaintiffs on a 50% basis between the Plaintiffs, so that the retainer payment would offset the loans of the Plaintiffs which were at a minimum of US$10,000 and US$11,000.
“The defendant did not respond to the Plaintiffs’ letter but place Plaintiffs under the presumption that all were taken care of and that Plaintiffs should proceed with the recovery but to the outmost surprise in 2016 when the defendant (UBA) and Liberia Banker Association (LBA) maliciously, purposely and wrongfully published in local dailies the names of the Plaintiffs characterizing them as bad debtors and delinquent borrowers which the purpose of the said publication was to shame the Plaintiffs and defame the hard earned reputation over the years,” the petition indicated.
The two Liberian lawyers are requesting Judge Yussif Kaba of the Civil Law Court to adjudge the UBA liable in the amount not less than US$1.5 million to be decided by the trial jury and US$500,000 for punitive damage as provided by law.
At the Commercial Court, the lawyers filed a six-count complaint, accusing UBA of owing them US$109,984.00.