Court Takes Action against Ecobank’s Delinquent Debtors

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    In enforcing its judgment to recover tens of thousands of United States Dollars owed Ecobank- Liberia, sheriffs of the Debt Court at the Temple of Justice  on Saturday, June 21, began seizing and closing homes and business centers of customers that had refused to pay back loans taken from the bank.

    During the Saturday exercise, occupants of a building located in Vai Town, Monrovia, were thrown out and the property seized, closed and placed under the authority of the bank.

    The building belongs to Miss Nelly Roberts and Miss Kadiatu Dukuly, both of who operate the Nelly Business Center.

    Nelly Business Center owes Ecobank the amount of US$114,325.60 LD$3,300.

    Other properties seized and closed during the exercise were Liberty Link, a local business that provides air and sea cargo services on Mechlin Street, and El- Shadda Service on Broad Street.

    The businesses’ owner, Chris Okonwo, owes Ecobank the amount of US$90,989.21 and LD$3,300.

    In the writ, the sheriffs were instructed to seize and expose for sale lands, goods and chattels until amounts owed by the defendants are raised.

    Moreover, the sheriffs were to arrest and bring the living bodies of the defendants before any judge of competent jurisdiction if they did not find any real property valued at the amounts owed.  

    The Court officers did not arrest any of the delinquent customers on Saturday as was instructed in the writ of execution.

    Warrant execution occurs when all other collection attempts, including multiple letters, telephone calls, and letters of impending legal action previously filed with the Court to secure the debt, are executed and exhausted to bring the debtor into compliance. 

    A Court officer who confided in the Daily Observer on Saturday said the action was a way of encouraging  delinquent debtors to  voluntarily enter into a repayment agreement with the bank.

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