For Over US$1m Debt:Court Raids MONCO Properties
The acting sheriff of the Commercial Court or his deputy at the Temple of Justice has been issued a Writ of Execution for the seizure and sale of land, goods and chattels belonging to the management of MONCO Liberia Limited.
MONCO is owned and operated by its Chief Executive Officer and president, former Montserrado County representative, Julius Parker. The court’s writ was ordered against an Action of Debt by attachment filed by the management of the Global Bank Liberia Limited through its Managing Director, Philips Olujobi.
The Court’s decision is in favor of a final judgment entered against the defendants on September 23, for an action of debt in the tune of over US$1 million adding, “If the sum realized therefrom be not sufficient to pay the reasonable expense of said seizure and sale, then seize the real properties until it shall have raised the sum of US$1,692, 161.24,” the execution order demands.
Further to that, the Court has mandated that if there be no asset of interest, land, goods and chattels of the defendants, the sheriff is ordered to arrest the living bodies of Mr. Parker and all authorized officers of the entity.
Upon the orders of Associate Judge, Richard Klah of the Commercial Court who is clothed with the authority to deal with the defendants according to the law, the sheriff is commanded to pay over to the plaintiff the sum of money necessary to satisfy the judgment following the sale of said properties.