MONROVIA : Judges at the Commercial Court at the Temple of Justice have denied the Guaranty Trust (GT) Bank its motion for summary judgement into the case involving the Bank and CT Com Liberia Limited.
The court has been hearing the case for nearly three months after CT. COM sued the bank for unlawfully freezing its account. They had been instructed to freeze an account belonging to Christopher Onanuga but CT. COM claimed that the Bank, instead went on and froze the account CT Com, one of Liberia’s leading media companies.
The Company, through its CEO, Mr. Christopher Hayes Onanuga sued GT Bank, demanding a damage for US$7 million. The company claimed that the bank’s alleged action subjected it to all forms of hardships and humiliation that led it to a near collapse.
At the trial, CT.COM Liberia Limited has presented all of its evidence; its witnesses have testified, and lawyers of both parties have fully examined them. However, GT Bank, instead of presenting its witnesses, shocked the court when it filed a motion for summary judgement on Monday, June 26.
Meanwhile, with the denial of such a motion, legal pundits say it puts the bank in a tight position to either proceed with the trial as it is, or run to the Supreme Court for interpretation. This, pundits say, will prolong the case.
However, the court’s latest ruling showed that the case has substance and is certain that the court will heard the case until it makes a ruling.
With the present status of the case, the big questions now are how deep is the GT Bank’s crisis with CT.COM Liberia Limited? How far is the bank prepared to go with this legal battle and how much does such a case take from the daily activities of the bank?