Justice A Anin-Yeboah of the high court in Banjul has ordered Alhaji MC Cham, a former minister in the ousted PPP regime to pay the sum of D1,434 605.24 to AMRC, with 27% interest from June 26, 1992 to date.

Justice Yeboah delivered this judgement last Thursday in the civil matter involving the former PPP minister and the Asset Management Recovery Corporation (AMRC). The former minister had filed a claim against the AMRC (former Gambia Commercial and Development Bank) for the recovery of the sum of D755, 238.99, being the credit balance on his account which the corporation, without his consent or permission, used to pay off the liabilities of Kaira Kunda Housing and Finance Company Ltd, including interest and damages.

The AMRC, in its amended statement of defence and counter claim, denied the former parliamentarian's claims and made a counter claim for the sum of D1,584 605.24, being monies owed by MC Cham to them on overdraft facilities and monies paid by them upon his request.

AMRC also claim 27% interest per annum on the sum of D1,584, 605.24 from June 26, 1992, to the date of judgement and 4% per annum from the date of judgement to the date of execution. The court disclosed that MC Cham is a businessman, and a politician who was a customer of the defunct Gambia Commercial and Development Bank (now AMRC), where he operated a personal account. The court further disclosed that on 12th April 2004, the politician testified that he maintained three accounts with the bank as an individual - two current and one savings account.

The court also disclosed that Alhaji MC Cham stated on 25th March 2004 that he has a personal account with the bank in the name of MCC Enterprises Ltd from which the bank took D900,000.00 to settle the amount on a new account they had created in his name. It was also stated that he admitted that he was one of two signatories to the Kaira Kunda account and that the other signatory was a Dutch national. It was also stated that though a minority shareholder, he (MC Cham) signed cheques and correspondence between Kaira Kunda and the bank.

The court also disclosed that a total of three letters of credit AMRC say they issued to Cham formed part of their counter claim, which was marked Exhibit K. It was revealed that Exhibit K shows three entries of D156,925.46, D218,730.45 and D1,032,774.44 with interest as having been debited to Alhaji MC Cham. The court revealed that Alhagie Cham also admitted to have been issued with two letters of credit, but denied the letter of credit for D1,032 774.44.

Justice Yeboah said it is a common banking practice for AMRC to use Alhagie Cham's credit to offset his debts upon the amalgamation of his accounts. Justice Yeboah declared that she was certain that AMRC had proven their counter claim of D1,584,605.24 minus the amount of D150,000.00 covered by the dishonoured cheque.

Justice Yeboah, therefore, ordered that Alhaji Cham pay the sum of D1,434,605.24 to AMRC at an interest of 27% per annum from 26th June, 1992 to last Thursday July 3, 2009, when the judgement was delivered. She further ordered Alhaji Cham to pay 4% interest from the date of judgement to the date of execution.  AMRC was represented by Lawyer Achigbue Uzoma whilst MC Cham was represented by Lawyer Ousainou Darboe.