Monrovia – The Commercial Court of Liberia has ordered the seizure and sale of assets belonging to Mutual Benefit Assurance Company (MBAC) to satisfy a judgment debt of more than US$11.2 million owed to Bea Mountain Mining Corporation (BMMC).
By Willie Tokpah
The order, contained in a Writ of Execution dated July 8, 2025, authorizes Sheriff Emmanuel Morris and his deputies to seize and sell the land, goods, and chattels of MBAC. If the movable assets are insufficient to cover the full amount of US$11,226,573.85, the writ extends to the seizure of the company’s real estate properties.
The ruling was signed by Chief Judge Chan-Chan A. Paegar and endorsed by Clerk of Court J. Amos F. Gboweh.
In the event that MBAC fails to present any assets for seizure, the court has also ordered the arrest of the company’s top executives, including the Managing Director, General Manager, Corporate Manager, and Personnel Manager. They are to appear before the court to face legal consequences under Liberian law.
The action stems from a commercial lawsuit filed by BMMC, represented by General Manager Hall Ozdemir, over MBAC’s alleged failure to meet financial obligations arising from a contractual relationship between the two entities.
Bea Mountain, a subsidiary of Avesoro Holdings, operates Liberia’s largest commercial gold mining project in Grand Cape Mount County.
The company reportedly entered into an agreement with MBAC for insurance services but later filed legal action when MBAC failed to fulfill its financial responsibilities under the contract.
Though a full opinion is pending, judicial sources confirmed that the court found MBAC in default after multiple attempts to resolve the matter failed.
This marks one of the largest debt enforcement actions in Liberia’s recent commercial history and signals a shift in how the judiciary handles corporate accountability. Legal experts say the ruling reinforces the Commercial Court’s commitment to enforcing final judgments and deterring contractual breaches.
This is not the first attempt to execute a judgment against MBAC. In April 2023, the company resisted enforcement of a similar writ issued by Judge Eva Mappy Morgan. During that incident, MBAC allegedly locked its premises and denied entry to court officers, causing delays in the execution of the court’s order.
Despite that previous writ, MBAC failed to settle the debt or reach a resolution, leading to the issuance of the more sweeping July 2025 writ.
Sources familiar with the case say court officers could begin enforcement within days unless the company settles the debt or negotiates a payment plan with Bea Mountain.
