...In CT COM Vs. GT Bank Legal Tussle

Judges at the Commercial Court at the Temple of Justice have denied the Guaranty Trust (GT) Bank its motion for summary judgment into the case involving the bank and CT Com Liberia Limited.

The court has been hearing the case for nearly three months after CT. COM sued the bank for unlawfully freezing its account. They had been instructed to freeze an account belonging to Christopher Onanuga but CT COM claimed that the bank, instead went on and froze the account of CT Com, one of Liberia's leading media companies.

The company, through its CEO, Mr. Christopher Hayes Onanuga filed a legal suit against GT Bank, demanding a damage fee of US$7 million. The company claimed that the bank's alleged action subjected it to all forms of hardships and humiliation that led to a near collapse.

At the trial, CT COM Liberia Limited has presented all of its pieces of evidences while witnesses have testified and have been fully examined by lawyers of both parties. However, GT Bank instead of presenting its witnesses, shocked the court when it filed a motion for summary judgment on Monday, June 26, 2023.

Meanwhile, with the denial of such a motion, legal pundits say it puts the bank in a tight position to either proceed with the trial as it is, or run to the Supreme Court for interpretation. Pundits say this will prolong the legal proceedings.

However, the court's latest ruling showed that the case has substance and is certain that it will be heard until a ruling is made.

With the current status, the big questions now are how deep the GT Bank's crisis with CT COM Liberia Limited is; how far is the bank prepared to go with this legal battle and how much does such a case take from the daily activities of the bank?