One of the major shareholders and General Manager of the Ducor Petroleum Incorporated (DPI), Amos Brosius who was falsely accused by the management of the Monrovia Oil Trading Company (MOTC) of misapplying the company’s income, and acquitted by Criminal Court Assizes “C”has filed an action of damages suit in the amount of US$5.963m against three officials of the MOTC.
The officials who claimed to be shareholders of DPI and are to pay the damages filed against them by Mr. Brosius include, the Chairman of MOTC, Mr. Kris Leeman, Mr. Charles Carron; Chief Executive Officer (CEO) of MOTC and Cllr. Cyril Jones who said he is a shareholder of Ducor Petroleum but never contributed to the growth of the company.
The action of damages filed against the MOTC executives came as a result of their false allegation leveled against Mr. Brosius that led to the damaging of his hard- earned reputation over the years, and therefore, has decided to file such a lawsuit against those who opted to damage his reputation.
Documents in the possession of this paper from the Commercial Court at the Temple of Justice said, “In spite of the historical fact that MOTC is not a shareholder of DPI, its CEO, Mr. Carron, has arbitrarily arrogated unto himself the position of the head of Ducor Petroleum Incorporated under the false claim of MOTC having controlling shares in Ducor Petroleum Incorporated by conducting himself and taking actions that would ordinarily be taken by a controlling shareholder,” the document from the Court noted. See below full text of the legal document:
REPUBLIC OF LIBERIA) INTHE SIXTH JUDICIAL CIRCUIT, CIVIL LAW COURT
MONTSERRADO COUNTY) INMONTSERRADO COUNTY,TEMPLE OF JUSTICE
BUILDING, MONROVIA, LIBERIA, SITTING IN ITS
MARCH TERM, A.D. 2014.
BEFORE HIS HONOR YUSUF D. KABA…..RESIDENT CIRCUIT JUDGE
Mr. Amos P.K. Brosius, of the City of Monrovia, )
Versus )ACTION DAMAGES
Monrovia Oil Trading Company by and Thru its ) FOR WRONG
ChiefExecutive Officer, Charles Carron, and Mr.)
KrismanLeemans, Chairman and all those )
Working under its authority, also Of the City of )
Monrovia, Liberia………………….…1stDEFENDANT )
Cllr. Cyril Jones, Shareholder of Ducor )
Petroleum Inc.———————–2nd DEFENDANT)
1. sometime in 2005, Cllr. Cyril Jones and Amos P.K. Brosius met and decided to form a corporation for the purpose of distributing petroleum products throughout Liberia.
2. The two potential shareholders agreed that the minimum amount of capital with which they shall commence business shall be not less than $100,000 (One Hundred Thousand United States Dollars).
3. That against this background, at the close of their meeting, it was agreed that the name of the company would be called Ducor Petroleum Incorporated and that the shares would subscribe to as follows: Cllr. Cyril Jones,Fifty Percent (50%) shares, based on his commitment to contribute towards the US$100,000 accordingly (Cllr. Jones agreed to pay US$83,333) and Amos Brosius,Ten Percent (10%) shares thus committing himself to contribute towards the payment of US$100,000 accordingly (Amos agreed to pay US$16,667). with Forty Percent (40%) outstanding shares.
4. The potential shareholders also agreed to have the Headquarters of the corporation in Monrovia and substations (gas stations) in other parts of the country as may be determined by the Board of Directors and the Registered agent and his name and address is: Amos Brosius, P.O. Box 1891, Monrovia, Liberia
5. The shareholders agreed to use the 40% shares to raise financing for the corporation.
6. That prior to their meeting, Cllr. Cyril Jones was the legal counsel for the Monrovia Oil Trading Company (MOTC), an importer of petroleum products to Liberia and Amos Brosius was the commercial manager of Mobil Oil Liberia with years of extensive training and experience in the sale and distribution of petroleum products.
7. That the Monrovia Oil Trading Company as a major importer of petroleum products during that period had huge stockpile of petroleum products that it wanted to sell in order to meet the LPRC minimum sales requirement policy and to meet its obligation to its creditors and was looking for a local distributor with adequate knowledge and experience about the sale and distribution of petroleum products in the Liberian market.
8. That prior to the filing of the Articles of Incorporation of Ducor Petroleum Inc., Amos Brosius and Cllr. Cyril Jones as shareholders agreed to meet with Mr. Charles Carron, the Chief Executive Officer of Monrovia Oil Trading Company (MOTC), First Defendant, based on the suggestion of Cllr. Cyril Jones that MOTC, First Defendant COULD FINANCE DUCOR PETROLEUM INC. AND FOR PLAYING THIS ROLE OF A FINANCIER, SUBSCRIBE TO THE OUTSTANDING FORTY PERCENT SHARES OF THE CORPORATION.
9. The shareholders met with Mr. Charles Carron, CEO of MOTC who proposed that MOTC would finance Ducor petroleum Inc. and in return, subscribe to the 40% outstanding shares of the company if Cyril Jones and Amos Brosius can agree that Ducor purchase most of its petroleum products from the MOTC.
10. That a memorandum of understanding was entered into on September 7,2005 essentially stating that MOTC would subscribe to the 40% outstanding shares of Ducor Petroleum Inc. in return for financing of the Corporation.
11. That in order to start the operation of Ducor Petroleum Inc., Amos Brosius as head of Ducor Petroleum Inc. needed an office space, personnel, vehicles, office equipment and supplies,sub-stations (Gas Stations), amongst other things.
12. That apart from the legal service rendered by Cllr. Cyril Jones to incorporate Ducor, no other contributions were made by him. Despite the fact that Cllr. Jones did not meet his financial obligations to Ducor, he hurriedly relinquished his 50% sharesto the MOTCby way of a Memorandum of Understandingprior to the filing of the Articles of Incorporation of Ducor.
13. That for the needs of Ducor Petroleum Inc. detailed in Count Thirteen (12) of this complaint, Plaintiff looked up to MOTC, whose potential shareholdings was based on its commitment to finance the operation of the corporation.
14. That Monrovia Oil Trading Corporation miserably failed, neglected and refused to finance Ducor as agreed in the MOU of 2005, thereby putting Amos Brosius in a very difficult situation of finding office space, office equipment and supplies, hiringthe initial essential staff at his own expense.
15. That against this background, MOTC was not given any share at the time of the filing of the Articles of Incorporation of the Ducor Petroleum Inc. on September 9, 2005. Those named in the Articles of Incorporation were Cllr. Cyril Jones Fifty Percent (50%) shares for his promise to pay an amount towards the Minimum Capital of ONE HUNDRED THOUSAND UNITED STATES DOLLARS (US$100,000.00) that would commensurate with his share percentage and Amos Brosius Ten Percent (10%) for his promise to pay an amount towards said minimum capital to commensurate with said percentage. The remaining Forty Percent (40%) of the shares were outstanding and meant to be used as a source of raising funds for the operations of Ducor Petroleum Inc. Amos Brosius was also named in the Articles of Incorporation as the Registered Agent of the Corporation.
16. That in spite of the historical fact that MOTCis not a shareholder of Ducor Petroleum Inc., its Chief Executive Officer, Mr. Charles Carron, has arbitrarily arrogated unto himself the position of the head of Ducor under the false claim of MOTC having controlling shares in Ducor Petroleum Inc. by conducting himself and taking actions that would ordinarily be taken by a controlling shareholder.
17. On November 27, 2012, MOTC and Amos Brosius met along with their legal counsels to discuss ways of settling a dispute that had engulf Ducor in prior years. At that meeting, the parties agreed to audit the financial records of Ducor inorder to determine their respective rights in the corporation.
18. While the audit was being conducted, MOTC hurriedly created the position of General Manager in their company and appointed Mr. James E. Sirleaf, son of President Ellen Johnson Sirleaf of Liberia to that position. Moreover, Cllr. Cyril Jones wrote letters to Ducor customers on February 12, 2013 informing them that Mr. James E. Sirleaf had beirg appointed as Senior management Consultant of Ducor Petroleum and that all matters relating to Ducor should be channeled through Mr. James E. Sirleaf and Mr. Charles Carron.
19. That also as to the Countabove, Plaintiff says that based on the position usurped by MOTC as a controlling shareholder in Ducor Petroleum Inc., its CEO, Mr. Charles Carron has persistently taken actions against Amos Brosius with the malicious intent and purpose to present Amos Brosius in Liberia and the rest of the world as a common criminal and thereby destroy his hard earned character, deny him his investment in the Ducor Petroleum Inc. and the right to run the said corporation as was manifested by his recent prosecution for the crimes of Theft of Property and Economic Sabotage which was based on false and misleading information that was maliciously provided by MOTC through its CEO and its law firm, Heritage Partners.
20. That despite the failure and refusal of the MOTC to finance and invest in Ducor Petroleum Inc., Plaintiff met both volume and profit objectives by selling 56,715,984 gallons of mixed petroleum products from October 1, 2005- December 31, 2012 which sales realized profits of SEVEN MILLION THREE HUNDRED NINETY ONE THOUSAND FOUR HUNDRED FORTY SEVEN UNITED STATES DOLLARS AND SIXTY THREE CENTS (US$7,391,447.63). Meanwhile, there is an allowance of One Percent (1%) for diesel fuel and One Point Five Percent (1.5%) for gasoline in the petroleum policy of Liberia for evaporation that raised additional income to a minimum of TWO MILLION UNITED STATES DOLLARS (US$2,000,000.00 ) which calculates Ducor Petroleum profits to at least NINE MILLION, THREE HUNDRED NINETY-ONE THOUSAND, FOUR HUNDRED FORTY SEVEN, UNITED STATES DOLLARS AND SIXTY THREE CENTS (US$9,391,447.63) However, a dispute developed between First Defendant MOTC and Plaintiff Amos Brosius due to the fact that Ducor could not pay its obligations from the date of its formation to the time of this complaint, despite the huge profits realized under the able managerial skills of Amos Brosius, now Plaintiff due to the fact that MOTC diverted funds belonging to Ducor for products sold to Ducor customers to MOTC corporate accounts with various banks without the knowledge of Plaintiff. Plaintiff says that Said profits were diverted by first defendant MOTC to its corporate accounts with Global bank, Liberia Bank for Development and Investment (LBDI) and other banks in Monrovia without the knowledge and consent of Amos Brosius now Plaintiff.
21. WHEREFORE AND INVIEW OF THE FOREGOING FACTS AND CIRCUMSTANCES, PLAINTIFF PRAYS FOR A JUDGEMENT OF LIABLE AGAINST DEFENDANT AS FOLLOWS:
22. Plaintiff says that for the injuries suffered and losses sustained as enumerated in the Counts of this complaint, Plaintiff is entitled to Special Damages in the amount of 1,994,372,.49 (One Million Nine Hundred Ninety Four Thousand Three Hundred Seventy Two United States Dollars and Forty Nine Cents) and General Damages to be awarded by the Jury of an amount not less than US$4,000,000 (Four Million United States Dollars) and
23. b) GRANT UNTO PLAINTIFF HIS PRAYERS AND ANY OTHER RELIEF THAT THIS COURT MAY DEEM JUST, LEGAL AND EQUITABLE.