The Special Commercial Court has held the Monrovia Oil Trading Corporation (MOTC) liable for US$3,244,100.78 withdrawn from Ducor Petroleum Inc.'s account at the Liberian Bank for Development and Investment (LBDI), bringing a 13-year commercial dispute between the two companies to a close.
Judge U-Jay W.H.S. Bright delivered the ruling Friday, September 18, 2026, following years of litigation over Ducor's corporate ownership, financial transactions and the withdrawal of millions of dollars from the company's LBDI account.
In his final order, Judge Bright declared businessman Amos Brosius the sole legitimate shareholder of Ducor Petroleum Inc. and restored his corporate status in the company with immediate effect.
"This Court hereby declares Mr. Amos Brosius the sole owner of Ducor Petroleum Inc., and his corporate status in the said company is hereby restored with immediate effect. Costs are ruled against MOTC," Judge Bright ruled.
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The court also ordered the release to Brosius of seven checks totaling US$212,704.36 that had been held in escrow at Afriland First Bank Liberia Ltd.
The dispute dates back to July 2013, when Commercial Court Judge Eva Mappy Morgan froze Ducor's LBDI Account No. 0221215153401.
Brosius subsequently alleged that the freeze order was lifted days later without notice, resulting in withdrawals from the account that became central to the prolonged dispute.
A complaint against Judge Morgan was later filed before the Judiciary Inquiry Commission (JIC), which found her liable for unethical conduct. The Supreme Court subsequently reversed the JIC's decision and cleared her, ruling that judicial error concerning account control did not automatically constitute ethical liability.
The financial dispute, however, remained unresolved.
While the commercial case was pending, MOTC initiated criminal proceedings against Brosius before Criminal Court "C," accusing him of theft and economic sabotage involving more than US$1 million.
On December 26, 2013, Judge Peter W. Gbeneweleh acquitted Brosius after reviewing Transfer Orders, Delivery Orders, LPRC Truck Loading Orders and bank statements.
Judge Bright later cited the acquittal as an important evidentiary consideration in resolving the commercial dispute.
Brosius filed a Bill of Information seeking US$3.3 million on August 3, 2021. On September 13, 2021, a three-judge panel comprising Chan Chan A. Paegar, Othello S. Payman I and Roosevelt Z. Willie (Ad Hoc) denied the Bill, holding that the matter was subsumed under an ongoing PKF audit.
The case subsequently remained stalled for several years.
A major development occurred after an August 5, 2026 order from Chief Justice Yamie Quiqui Gbeisay assigned the matter to a Special Commercial Court.
Judge Bright then issued a bank-wide subpoena duces tecum seeking commercial banking records involving Ducor and MOTC accounts between 2013 and 2018.
According to the court, the bank records revealed "a massive movement of cash" and ultimately established that US$3,244,100.78 had been withdrawn from Ducor's LBDI account by 2018.
Beyond the financial liability, the court rejected MOTC's claim to 90 percent ownership of Ducor, finding that the company had failed to establish a legal basis for its ownership claim.
The court examined a September 7, 2005 Memorandum of Understanding that described MOTC as a "financier." PKF had interpreted the term as "equity financing," meaning that petroleum supplied by MOTC could constitute equity in Ducor.
Judge Bright rejected that interpretation, holding that the plain meaning of "financier" referred to a party providing or raising funds.
The court further ruled that even if the agreement were considered ambiguous, a reasonable interpretation required MOTC to provide cash financing in addition to petroleum products before acquiring 90 percent of Ducor's shares.
Because MOTC supplied petroleum products on credit rather than providing the required cash financing, the court found that the condition precedent for transferring the shares had not been met.
The court also found no corporate documentation establishing MOTC as a shareholder of Ducor.
Judge Bright noted that MOTC was neither named nor referenced in Ducor's Articles of Incorporation and that no share certificate, stock ledger or board resolution had been produced to establish ownership.
The judge also criticized aspects of the PKF audit, noting that auditors had declined to examine primary documents requested by Brosius, including Transfer Orders, Delivery Orders, LPRC Truck Loading Orders, MOTC credit invoices and bank statements from several financial institutions and companies.
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PKF had argued that Brosius failed to establish his investment and had raised concerns about withdrawals, commingling of personal and corporate assets and the absence of records showing increased share capital.
Judge Bright rejected those arguments, citing evidence of expenditures and investments made by Brosius, including office rent, vehicles, equipment, leasehold improvements and a 2008 US$338,000 loan facility secured by his personal real estate.
The court also rejected PKF's claim that Brosius owed MOTC US$7,663,507.36, stating that "there is no proof in the records showing such liability."
Judge Bright further permitted Brosius to pursue additional legal action against MOTC for other proceeds and injuries allegedly sustained in his individual or corporate capacity.
The ruling therefore leaves MOTC liable for US$3.24 million while restoring Brosius' ownership of Ducor and setting aside the audit findings that supported MOTC's 90 percent ownership claim.
