By: R. Joyclyn Wea
MONROVIA-Businessman George Kailondo was dragged to court on February 23, 2022 after allegedly failing to meet up with his obligation to Global Bank Liberia Limited in the amount of overUS$3m (three million United States dollars).
In a nine-count petition for foreclosure mortgage, the bank through its lawyer, Cllr. Jimmy Bombo prayed Criminal Court “C” for a decree foreclosing the mortgage properties of George Kailondo with all appurtenances be put on public sale and proceeds realized thereof be applied to offset debt obligations.
As the result, Criminal Court “C” will begin trial into the matter beginning today, March 21, 2022.
Currently, the court has sent jurors under-grounds and those individuals are expected to remain under-ground until the case is disposed of.
At the same time, the court will also use Monday’s trial to complete the selection of the 11-man jurors penal who will serve as Jury Defacto to hear and bring down verdict either for or against Cllr. Kailondo.
During Friday’s selection of jurors, three of the jurors selected tendered in their excuse and inability to be underground until the matter is concluded.
The action for the court to send those jurors underground is a result of a request made by George Kailondo’s lawyers.
It can be recalled that prior to Friday’s selection of jurors, Kailondo through his lawyers prayed for a juror trial, but requested the court to confiscate the juror to avoid alleged juror tampering.
This plea by businessman Kailondo was granted by the court, something that witnessed the selection of jurors and subsequent putting them underground.
Petitioner says that upon the execution of the Mortgage Deed Agreement and the subsequent submission of Respondents’ title deeds, the Petitioner granted unto the Respondents (Kailondo) the initial loan followed by other loan facilities.
The lawsuit against Kailondo furthered that in addition to the Mortgage Deed Agreement, the lawsuit furthered that Kailondo also executed and submitted cash collateral agreements and chattel mortgage agreements as collateral.
The bank mentions that Kailondo executed several other agreements with the bank obligating him to pay the loan or the alternative, the properties subject to this proceeding be placed for public auction.
As a means to show that Kailondo is indebted to the bank, the lawyer, Cllr. Jimmy Bombo exhibits a portion of Respondents’ (Kailondo’s) statement of account with the Petitioner showing that he is indebted to the Petitioner in the amount of US$3,573,678.16.
Petitioner says that as of the date of filing of its petition, Kailondo has failed, refused and neglected to pay its indebtedness of US$3,573,678.16.
According to the bank’s lawsuit, the petition for foreclosure will properly lie to recover the amount of US$3,573,678.16.
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