Metropolitan Hotel Shut Down over US$51,740 Unpaid Loans

first_imgMetropolitan Plaza Hotel, situated on Broad Street, Monrovia, was last Thursday shut down by the Commercial Court for defaulting on a US$51,740 loan from Global Bank-Liberia Limited.The hotel’s closure was a result of the final judgment entered against the hotel by the court on November 13, 2013.The bank said it loaned or guaranteed Metropolitan Plaza US$99,000 before the lawsuit, of which US$51,740 is still owned by the company.A.N. Charifz, general manager of the hotel and loan guarantor, was nowhere to be found when the court’s officers went to close it down following a “Writ of Execution” issued by Resident Chief Judge Eva Mappy Morgan, last Thursday.In the execution order, Judge   Morgan instructed her court   officers that, “If Charifz fails to comply with the order, they   should arrest him for contempt of court consistent with 1LCL Revised Chapter 44- enforcement of judgment and orders.”The court further ordered Charifz to pay Global Bank the sum of money necessary to satisfy the judgment adding that “if the money that would be realized from sale of the company’s properties is not sufficient to pay the reasonable expenses, then seize the real properties until it shall have raised the sum of US$51,740.”Judge Morgan also instructed court officers to seize and expose for sale land, goods and chattels of the management of Metropolitan Plaza Hotel.”Immediately, after the sudden closure of the hotel, an employee was heard phoning his fellow workers shouting,” Oh, guys the government has closed the hotel. We and our customers have been left in the cold, especially in this festive Season,”According to financial experts, non-payment on bank loans by business institutions could jeopardize the entire financial system of the country,   especially in the post- Ebola recovery period.In August 2013, Global Bank Liberia Limited filed a case in the Commercial Court to recover US$99,000 from Metropolitan Plaza in unpaid loans and interests due the bank.After the company was sued for non-payment, the court ruled on November 3, 2013 that the company was not paying the US$99,000 loan in compliance with the agreement and authorized the bank to sell the company’s mortgaged properties to recover the outstanding debts.The court at the time also ordered the company to settle the outstanding debt within a few months, which it failed to do up to the hotel’s closure last Thursday.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

From the bench to the back of the net – episode three: London

first_imgtalkSPORT has teamed up with Royal Naval Reserve to bring you a series of brilliant documentaries exploring the very special role of the substitute in football.And in this episode we look at some of the greatest subs in London.For more information on the Royal Naval Reserve, visit listen to previous episodes of ‘From the bench to the back of the net’, click herelast_img

More clubs have joined the race to sign Liverpool youngster Rhian Brewster

first_img Arsenal transfer news LIVE: Ndidi bid, targets named, Ozil is ‘skiving little git’ The biggest market value losers in 2019, including Bale and ex-Liverpool star REVEALED Latest transfer news on Top nine Premier League free transfers of the decade RANKED LATEST Brewster in action during England’s Under-17 World Cup winning campaign Man United joined by three other clubs in race for Erling Haaland moving on 1 Arsenal and Tottenham have also checked on his availability while talks with Liverpool have continued amid uncertainty over his future.The youngster has made big career decisions in his career already after leaving Chelsea to move to Merseyside aged 14.He has seen some of his contemporaries’ careers stall after committing to long-term deals and is cautious not to allow the same thing to happen to him over the new few vital years.center_img IN DEMAND PSG and Juventus are the latest clubs to join the race for Liverpool wonderkid Rhian Brewster.Although the 18-year-old striker has agreed his first professional contract with the Reds in principle, talks between Brewster’s representatives and the club are still going on. LIVING THE DREAM targets Kevin De Bruyne ‘loves Man City and wants to keep winning’, reveals father Where every Premier League club needs to strengthen in January targets SunSport has revealed that one of the issues Brewster is seeking clarity on is his ability to challenge for a place in the first team next season.And as a result of these ongoing talks, the French champions have reportedly registered their interest in Brewster – who won the Under-17 World Cup with England in October 2017.It is understood Brewster is not looking to cash in on signing his first deal and the club will have to convince him there is a pathway to Jurgen Klopp’s set-up.Juve are monitoring the situation despite securing the £99.2million signing of Cristiano Ronaldo from Real Madrid. Cavani ‘agrees’ to join new club and will complete free transfer next summer Tony Cascarino backs Everton to sign two strikers for Carlo Ancelotti last_img read more