Banka Jabuuti Ha Ogolaado Inuu Taxkiim Dawalya Arrinka Ka Garnaqdo . Taxkiim Duwali ah ( International Arbitration) labadca daraf ayaa ku heshiisa, Daraf waliba tusaale 2 looyar ayuu magacaabaa . Afarta Looyarna Chairman ayay doortaan . Guaanka Taxkiimta Dualiga ahi waa ka dambays oo Abiil lagama qaadan karo.
Banku hdii uu diido in Taxkiim Duwali ah lagu gar-naqsado , waa inuu ogolaadaan qaraarada Maxkamadaha Somaliland.
Maxkamada Somaliland waxay furayaan Dacwadood :
A) Axmed Osman Geelle Dacwad Madaxwayneha Jabuuti ka dhan ah ayuu Maxkamadda Hargeysa ku Furayaa – Madaxwayne Jabuuti markaas waa ifahda loo yaqaan Related Party ( ظرف ذات علاقة) ) amma Daraf Cilaaqad La Leh ( 35% ayuu Bankka leeyahay + waana Poltically Senstive Person)
B) Banka BCI MR dacwad ka dhan ah Axmed Osman Geelle ayuu Isaguna Maxkamadda Hargesaya u gudbinayaa.
Darafka xaq dheeraadi ahi raaco ayaa darafka kale u cilinya waxii gashi ah ee lagu yeesho.
Ahmed O Geele should file a lawsuit against President of Djibouti in Hargeisa and the Djibouti Based bank should be allowed to file legal case against Ahmed – also in Hargeisa .
The position of Ahmed Osman Geelle regarding his defaulting on USD 20m loan that he obtained from BCI MR Bank is quite difficult but yet manageable.
First, the question of repatriation of Ahmed to Djibouti is out of question. No Self-respecting nation hands over their citizens to a third nation unless THREE BASIC conditions are fulfilled. First, the two countries – in this case Somaliland & Djibouti – should have repatriation treaty. Secondly, there should be explicit assurance that the expatriated person will receive fair trial, if handed over to another country. And more importantly, there should be assurance that the person will not be tortured or mistreated in any form.
Somaliland and has no repatriation treaty with Djibouti. Secondly, Djibouti is by all counts the last place to whom a civilized nation will repatriate its citizens. Djibouti has
In order to resolve the question of the past due bank loan and at the same time enable Ahmed to recover the assets that were illegally confiscated from him, both the bank and Ahmed should resort to Hargeisa courts – in two simultaneous courts on one joint proceedings.
A) Ahmed should file a lawsuit against President of Djibouti and his family demanding the return of all the assets illegally confiscated by the Djibouti government. Note: It is worth remembering here that the President is being sued directly because he is a Related Party and holds 35% interest in the bank. Besides, the
B) On the same date, the Djibouti Based bank should be allowed to file legal case against Ahmed demanding repayment of the loan he obtained from them in Djibouti.
The two cases should cancel one another. Ahmed should take possession of all his property and other assets located in Djibouti. Similarly, BCI MR Bank should, if Hargeisa court so rule, obtain repayment of the loan in accordance with a new restructured timetable.
Finally, the following relevant couple of facts should be taken into accounts by Ahmed lawyers and financial analysts. 1) it’s obvious that the purpose of the loan was to finance Ahmed entire business and not for the construction of the coca plant in Hargeisa. This is very important in court of law, and will keep the Hargeisa plant out of any disputes. 2) the security guaranteeing the loan was reportedly assets Ahmed possesses in Djibouti. This means the Djibouti bank cannot put hands on the coca Plant since they have other assets to liquidate and obtain their loan. 3) GSK Holdings is obviously a limited liability company and the liability of debt obtained from the bank is limited ONLY to liquidation of the assets of GSK Holdings. This means the Bank has no right to place hands on Ahmed the assets like the Hargeisa – unless Ahmed has singed Personal Guarantees to the bank, and his assets are not sufficient to the repayment of the lain. it is possible that the Strongman in Djibouti has undervalued the assets in Djibouti and intends put hold on Hargeisa assets as well. The sinister behaviour should be exposed by our legal system.
For that reason, Ahmed’s lawyers should first obtain the following documents open order to assess the situation: A) Copy of the loan agreement. B) Copy of the facilities agreement which Ahmed normally signed with bank on annual basis regard all the other facilities that his company enjoyed as corporate client. C) The lawyers should ensure the loan in question was not extended to finance the coca plant but for all the company business. Based on our longstanding experiential in corporate finance its unlikely the bank accepted the Coco plant in Hargeisa as security of the loan since Somaliland is not a recognized country. Therefore, the Hargeisa Coco plant is most probably free from any claims by the bank.
To sum it up:
- The French should be NOT be involved in this case since France is not the jurisdiction in this case.
- Ahmed should file a lawsuit against the president of Djibouti ( related Party) in Hargeisa courts and the Djibouti bank should simultaneously sue Ahmed in Hargeisa courts.
- The outcome of the two cases should cancel one another.
- Alternatively, the two sides should agree to set up an International Arbitration Committee, applying English Law based in International Chamber of Commerce Rules (CCI).
- Djibouti should lift the Interpol Note from Ahmed and he should be a freeman effective the day the BCI MR Bank submits its case before the Legal court in Hargeisa.
The government of Djibouti should guarantee that Ahmed can freely travel to Djibouti in order to Manage is assets and businesses there.
- Ahmed’s lawyers should obtain all the relevant documentation regarding the loans in question.
- Ahmed’s lawyers should also seek the advice and consultation of Experienced Bankers with hands-on experience in corporate finance and related litigations.
Hassan Abdi Yousuf
Retired Senior banker and Geopolitical Analyst