Powell Duan, counselor to the Finance Ministry, told The New Dawn: "We are intending to sell Libercell [for] US$1 million because of default. The Tax Court gave the [company] 15 days to pay the debt, but Libercell failed; so the only option is to sell the company."
He did, however, note the decision is not automatic as it is subject to the outcome of today's (Wednesday) discussion with the Tax Court Judge.
Last December, the Supreme Court of Liberia directed Tax Court Judge Eva Mappy Morgan to resume jurisdiction over Libercell GSM tax arrears trial.
This happened three months after the High Court placed a stay order on the Tax Court's decision to close down the company as a result of its inability to pay the stipulated US$1,469,926 tax it owed the Liberian government.
Acting upon the Supreme Court's mandate, Judge Morgan ordered Libercell GSM to pay US$734,963 in addition to clerk fees from the day of the ruling to December 22, 2012.
The Libercell GSM saga started on July 30 when the lower court closed the telecoms company down on the account of its failure to comply with payment stipulations reached before the Tax Court despite repeated warnings.
Following this, the company petitioned Liberia’s apex court, the Supreme Court of Liberia, asking it to review the decision of the lower court.
This prompted the High Court to stay the Tax Court's closure order and the company was reopened to continue operations pending the outcome of the Supreme Court’s review.