Friday, May 29, 2020

Ultimatum for Standard Charted Bank If…

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By Mamadou Dem

Commission Counsel Amie Bensouda, yesterday told the Chairman of the ‘Janneh’ Commission, that she would apply for an order to be issued against the Managing Director of Standard Chartered Bank, should he / she fails to appear before the Commission today.

This development came when the MD of the bank was called to appear before the Commission on two occasions, but could not be found within the premises of the hotel. Kebba Bojang, the Process Server, confirmed to Commissioners that he effected the service of delivering the letter to the Secretary of the MD, since that was the procedure at their bank.

Mr. Bojang finally informed Commissioners that through a phone call from the Bank, he was informed that the MD would be running late to the Commission.

Lawyer Loubna Farage, a private legal practitioner, was summoned by the Janneh Commission yesterday in her capacity as the Secretary of Gam Petroleum Storage Facility.She was summoned to shed light on the Petroleum Storage Facility as well as the Company itself. Testifying before the Commission, Farage said she never had the original copies of the Company and incorporated certificate, but had some other documents of the company; that she would tender the documents she had but objected to producing the documents that were in the custody of the Company. She was told that she would be given time to produce the documents but she said they were not in her possession. Going further, she said she had to seek the permission of the Company to produce the documents, stating that she had the shares certificate of the shareholders of the Petroleum Storage Facility; that the shareholders were Amadou Samba, Mr. Bazzi, Mr. Mazegi, GPA, GNPC and SSHFC; that the Petroleum Company is an offshore Company which used to have shares in Gam Petroleum Company. According to her, she was not the lawyer who incorporated the Company; that in 2008, Gam Petroleum was restructured and that was when the Company was incorporated.

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According to Farage, in 2009, Mr. Bazzi and Mr. Samba transferred shares to Gam Petroleum, with Bazzi owning 99% while Mr. Samba owned 1% shares; that she did not have documents authorising the closure of the Petroleum Company. She said the resolution of the Petroleum Storage Facility was in her custody and there were share transfers from Mr. Mazegi to Mr. Samba and from Mr. Bazzi to SSHFC. The witness further testified that there was a resolution of transfer and cancellation of shares and that the Petroleum Storage Facility Company, was incorporated since 2003.

At that juncture, Memorandum and Articles of Association of Gam Petroleum Storage Facility, resolutions, share certificates, 2017 annual returns as well as documents relating to Gam Petroleum Company Limited, were admitted as exhibits. However, the witness disclosed that there was no resolution for the transfer of shares but Counsel Bensouda intimated to her that she was expected to produce the resolution of 2008 and 2009 among others.

Sitting continues today.

 

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