--In US$467,013.50 debt case
The court has ordered BanJak Frozen Food Company to close after it failed to post a bond against a US $467,013.50 debt claimed by its frozen food supplier, MS Global Company.
By Lincoln G. Peters
Monrovia, September 18, 2024: The Commercial Court in Monrovia has ordered the closure of BanJak Frozen Food company on Bushrod Island, due to its failure to post a bond against a US$467,013.50 debt.
The court's decision followed a request from MS Global Company based in Manama Kingdom of Bahrain and represented by its Special Attorney-In-Fact, Counsellor Albert S. Sims.
The complainant had pleaded for an issuance of a writ of Attachment against the BanJak Frozen Food of Bushrod Island, represented by its authorized officers Hussein Foaud and Mohammed Sweidan.
The complainant accused the the defendant of failing and refusing to make payment despite all efforts and demands to settle its obligation.
MS Global Company alleged that the accused had an intent to defraud it of its just obligations, and it has attempted to close its operation.
MS Global Company noted that the accused also sold or was attempting to sell its assets.
The writ noted that the defendant is liable to MS Global Company in the aggregate amount of US$ 467,0113.50 plus legal interest of six percent per annum.
According to the court documents, between February 2024 and up to August 2024, MS Global Company supplied the frozen food company food commodities, specifically, chicken upper backs, chicken carcasses, and fish in varying quantities and at varying prices.
The lawsuit stated that the business relationship between the defendant and the plaintiff was cordial and marked by what appeared to be a demonstrated commitment on the part of the defendant to live up to the terms of its contracts.
Regrettably, however, the suit payment for subsequent frozen food commodities was disappointingly not met with the same promptitude with which the defendant had settled the plaintiff's previous invoices for the first two consignments.
MS Global Company said the frozen food company's obligation stands at US $467,013.50.
