Liberia

Liberian Businessman Amos Brosius is requesting that Chief Justice Francis Korkpor make sure that his company’s US$3 million is returned by the Judiciary before Korkpor's retirement in September of this year, the Liberian Observer reported. The disputed US$3 million was placed in an escrow account at the Liberia Bank for Development and Investment (LBDI), managed by the Judiciary through the Commercial Court, after both Brosius and the Monrovia Oil Trading Company (MOTC) could not agree to the management of Ducor Petroleum Incorporated.

The International Monetary Fund said Thursday it will provide a total of $100 million in debt relief and another $160 million in low-interest financing for the three West African countries hardest hit by the Ebola crisis, The Wall Street Journal reported. The deadly Ebola epidemic has slammed the economies of Guinea, Liberia and Sierra Leone as the health disaster slashed state revenues and crisis costs overwhelmed the governments’ budgets.

The Chairman of the Law Reform Commission (LRC), Cllr. Jallah Barbu, has recommended to members of the National Legislature to consider the passage of the proposed Insolvency Law, allAfrica reported on an Inquirer story. Giving background of the Insolvency Law at a Legislative Hearing on the Proposed Insolvency Law held at a local hotel on Wednesday, Cllr. Barbu said the key benefit of the law is that it provides detail legal procedures by which businesses having financial trouble and/or that have become insolvent may still manage to rebound. Cllr.