Tagged: ACTION OF DAMAGES FOR BREACH OF DEPOSIT CONTRACT

The appellant, Guaranty Trust Bank (Liberia) Limited, has challenged the final ruling of the Commercial Court in which the latter ruled and adjudged the former liable to the appellees, Charles E. Sirleaf and Bojelene Guest House Inc. for breach of deposit contract and awarded damages in the aggregate amounts of One Million, Six Hundred Seven Thousand United States (US$1,607,000.00) Dollars and Fifteen Million, Six Hundred Ninety Thousand Liberian (L$15,690,000.00) Dollars, and has called upon the Supreme Court of Liberia to reverse the final ruling of the Commercial Court.

The certified records show that on September 3, 2020, the appellees, plaintiffs in the Commercial Court of Liberia, instituted an action of damages for breach of deposit contract against the appellant, Guaranty Trust Bank (Liberia) Limited, as defendant below, having complained that the Bank failed to address concerns of fraudulent banking transactions carried on their accounts maintained with the appellant bank. The appellees alleged in substance that Eight Hundred Sixty-Six Thousand, Five Hundred Eighty United States