GT-Bank ‘Nailed’


MONROVIA-The Court on Wednesday, July 20, 2002 adjudged the Guarantee Trust Bank Liberia Limited guilty in connection to an Action of Damage for Wrong Lawsuit instituted by renowned Liberian Businessman and Lawyer, Cllr. George B. Kailondo for his Petroleum Company.

Judge Yamie Gbeisay ruled that Cllr. Kailondo proved his US$2.5m Action of Damages for Wrong by the preponderance of evidence against GT-Bank as provided by law.

Judge Gbeisay further adjudged that Cllr. Kailondo is entitled to important damage in the form of specific and general damages as the result of the bank’s action when the Bank’s Management illegally debited the Liberian Businessman’s Accounts without his authorization, knowledge, and consent.

Judge Gbeisay recalled that during the trial, the bank admitted carrying out the said debits between 2025 to 2016, but failed to produce the authorizations issued by Cllr. Kailondo on the ground that they cannot locate the document.

As a result of the GT-Bank illegal action, Judge Gbeisay ordered the Management of the Bank to pay Cllr. Kailondo US$400,000 for special damage and over US$3m for General Damage.

But the Bank’s legal team took exception to Judge Gbeisay’s ruling and announced an appeal to the Supreme Court, thereby placing a stay order on his decision as provided by law.

The Supreme Court is the final arbiter of justice in the country.

It can be recalled that on September 20, 2022, Cllr. Kailondo, who is the owner of Kailondo Petroleum Incorporated, filed an Action of Damage for Wrong against the GT-Bank for illegally withdrawing monies from his accounts

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