Monrovia – The Business Court docket of Liberia has ordered the seizure and sale of property belonging to Mutual Profit Assurance Firm (MBAC) to fulfill a judgment debt of greater than US$11.2 million owed to Bea Mountain Mining Company (BMMC).
By Willie Tokpah
The order, contained in a Writ of Execution dated July 8, 2025, authorizes Sheriff Emmanuel Morris and his deputies to grab and promote the land, items, and chattels of MBAC. If the movable property are inadequate to cowl the complete quantity of US$11,226,573.85, the writ extends to the seizure of the corporate’s actual property properties.
The ruling was signed by Chief Decide Chan-Chan A. Paegar and endorsed by Clerk of Court docket J. Amos F. Gboweh.
Within the occasion that MBAC fails to current any property for seizure, the court docket has additionally ordered the arrest of the corporate’s high executives, together with the Managing Director, Basic Supervisor, Company Supervisor, and Personnel Supervisor. They’re to seem earlier than the court docket to face authorized penalties beneath Liberian regulation.
The motion stems from a industrial lawsuit filed by BMMC, represented by Basic Supervisor Corridor Ozdemir, over MBAC’s alleged failure to fulfill monetary obligations arising from a contractual relationship between the 2 entities.
Bea Mountain, a subsidiary of Avesoro Holdings, operates Liberia’s largest industrial gold mining venture in Grand Cape Mount County.
The corporate reportedly entered into an settlement with MBAC for insurance coverage companies however later filed authorized motion when MBAC failed to satisfy its monetary duties beneath the contract.
Although a full opinion is pending, judicial sources confirmed that the court docket discovered MBAC in default after a number of makes an attempt to resolve the matter failed.
This marks one of many largest debt enforcement actions in Liberia’s current industrial historical past and indicators a shift in how the judiciary handles company accountability. Authorized specialists say the ruling reinforces the Business Court docket’s dedication to imposing remaining judgments and deterring contractual breaches.
This isn’t the primary try and execute a judgment towards MBAC. In April 2023, the corporate resisted enforcement of an analogous writ issued by Decide Eva Mappy Morgan. Throughout that incident, MBAC allegedly locked its premises and denied entry to court docket officers, inflicting delays within the execution of the court docket’s order.
Regardless of that earlier writ, MBAC didn’t settle the debt or attain a decision, resulting in the issuance of the extra sweeping July 2025 writ.
Sources acquainted with the case say court docket officers may start enforcement inside days except the corporate settles the debt or negotiates a fee plan with Bea Mountain.
