A legal argument proffered by the Groupe Ndoum Bank (GN Bank) Liberia Limited, owned by the Ghana Growth Fund Company, that the bank should not be held responsible for the alleged burglary at the Young Philip Business Center, in Ganta, Nimba County, from which the enterprise sustained serious loses, has been rejected by the Civil Law Court 'A' in Monrovia.
In the wake of the burglary, Young Philip Business Center is seeking US$272,849 and L$7,651,975, including US$250,000 as general and punitive damages against the bank, because the burglary occurred after the Commercial Court had already placed the business center in the possession of the bank, due to the Young Philip Business Center's failure to settle its obligation in the amount of US$15,000 .
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