The Supreme Court is expected to hear legal arguments on Tuesday, June 2, 2026, in a commercial dispute involving MONCO Liberia Limited and Global Bank Liberia Limited.
The case centers on a US$2.5 million judgment awarded to MONCO by the Sixth Judicial Circuit Civil Law Court in Monrovia.
MONCO Liberia, a business owned by former Montserrado County lawmaker and businessman Julius S. Parker, secured the judgment after the Civil Law Court ruled that Global Bank’s actions caused significant harm to the company and its management.
The ruling was delivered on September 1, 2023, by Assigned Circuit Judge Nelson B. Chineh.
Judge Chineh ordered Global Bank to pay US$2.5 million in general damages, finding that the bank’s handling of a commercial transaction, and subsequent seizure of property resulted in mental distress, public humiliation, and substantial damage to the company’s operations and reputation.
The case has its origins in a major cement importation agreement signed in 2009.
Under the arrangement, MONCO Liberia entered into a contract with a Chinese company to import approximately 1.5 million metric tons of Portland cement valued at about US$150 million over a five-year period.
According to court records, the dispute arose after MONCO accused Global Bank of bypassing established financial procedures and assuming control of the imported cement.
The company alleged that the bank sold the cement without properly accounting for the proceeds or applying the funds toward MONCO’s outstanding loan obligations.
In its lawsuit, MONCO filed an Action of Damages for wrong, arguing that Global Bank unlawfully liquidated the cement, which had been used as collateral, while also causing the arrest of the company’s chief executive officer and seizing company property.
The company said, the actions severely disrupted its business operations, caused psychological suffering, and damaged the public reputation of its management.
Global Bank, however, rejected the allegations and said, MONCO had failed to service a substantial debt owed to the institution.
The bank subsequently filed an Action of Debt against MONCO and its chief executive officer in an effort to recover the outstanding balance.
After reviewing the evidence, Judge Chineh ruled in favor of MONCO, concluding that the bank had mismanaged the transaction, and failed to properly account for proceeds generated from the cement consignment.
The court consequently awarded the company US$2.5 million in general damages.
Global Bank’s legal team strongly contested the ruling, and subsequently filed appeals, arguing that the judgment was not supported by the facts and law presented during the proceedings.
The appeals have kept the matter active in the judicial system for several years.
The upcoming hearing before the Supreme Court, is expected to provide both parties an opportunity to present arguments regarding the lower court’s decision.