ACTIVA INTERNATIONAL INSURANCE LIBERIA (ACTIVA) STATEMENT IN RELATION TO THE RECENT CLOSURE OF ITS PREMISES

-GROWING OUT OF ENFORCEMENT PROCEEDINGS BY THE NATIONAL LABOR COURT

PRESS RELEASE

On Friday, March 20, 2026 at the hour of 2:00 PM, the Sheriff of the National Labor Court proceeded to close the premises of ACTIVA, located on 5^th Street Sinkor, Monrovia, on account of a Writ of Execution in connection with the enforcement of a Labor Court Judgment against ACTIVA. ACTIVA hereby issues this Statement to apprise the public, stakeholders, and relevant authorities of the series of events leading to this unfortunate situation.

It can be recalled that in November 2025, the Honorable Supreme Court of Liberia ruled dismissing ACTIVA’s appeal growing out of an Unfair Labor Action, in favor of Mr. Saye Gbalazeh.

Subsequently, the Labor Court prepared a Bill of Cost, for ACTIVA to pay in the total amount United States Dollars Four Hundred Ninety Seven Thousand Five Hundred Eighty Three and Sixteen Cents (US$497,583.16).

In keeping with law, and despite expressed strong reservations about unjustified interests, unnamed attorney fees, plane ticket, etc. added to the judgment, ACTIVA paid the amount of United States Dollars One Hundred Fifty Thousand Five Hundred Eighty Four and Thirty Seven Cents (US$157,584.37), and then filed a Motion for Deferred Payment to pay the outstanding balance in three installments. The Motion was denied following argument. ACTIVA then applied to the Labor Court requesting Ten Days to pay the outstanding Judgment Amount.

On Thursday, March 12, 2026, ACTIVA then proceeded and paid the amount of Liberian Dollars (L$47,873,618.09), equivalent to (US$260,182.71) at the prevailing Central Bank Exchange Rate, with the promise that it would pay the outstanding Judgment Balance on or before Friday, March 20, 2026.

On Thu, March 19, 2026, ACTIVA proceeded to the National Labor Court with Checks totalling L$16,218,206.99, equivalent to Eighty Seven Thousand, Eight Hundred Eighty Eight United States Dollars and Twenty Seven Cents

(US$87,888.27), at the prevailing Central Bank Exchange Rate, representing final payment of the judgement amount.

The National Labor Court initially accepted the payment and was in the process of issuing a receipt; however, within minutes before the receipt could be issued, the Court reversed its decision, refusing the Liberian Dollars payment and ordering ACTIVA to pay the amount in United States Dollars. Failure to comply immediately risks the issuance of a Writ of Execution and company closure. National Labor Court proceeded to close ACTIVA’s premises pursuant to a Writ of Execution.

In a further escalation that can only be described as draconian, the Court

ordered the immediate closure of ACTIVA’s business premises until such time as the judgment balance is satisfied in United States Dollars. This action was taken notwithstanding ACTIVA’s clear representation that access to its offices was indispensable to facilitate payment.

ACTIVA categorically asserts that the actions of both Mr. Saye Gbalazeh and the Resident Judge constitute a grave departure from established legal principles and judicial norms. It is a fundamental tenet of Liberian Law that the Liberian Dollar is legal tender within the Republic, and binding jurisprudence of the Honorable Supreme Court has consistently affirmed that judgment debts may be satisfied in Liberian Dollars at the officially recognized exchange rate.

Any attempt to compel payment exclusively in a foreign currency is not only legally indefensible but effectively undermines the sovereign monetary framework of the Republic.

Equally alarming is the Court’s precipitous enforcement action in direct contradiction of its own prior order granting a definitive payment deadline of March 24, 2026. Such conduct is not only irregular but raises serious concerns regarding arbitrariness, abuse of judicial discretion, and denial of a fair hearing.

The cumulative effect of these actions has inflicted substantial reputational harm upon ACTIVA, disrupted its operations, and adversely impacted its clientele, its employees and business relationships. These consequences are both unjustified and actionable under the laws of the Republic.

Accordingly, ACTIVA has instructed its Counsel of Record to immediately institute formal complaints against Mr. Saye Gbalazeh and the Resident Judge before the Honorable Chief Justice of the Republic of Liberia, as well as to petition the Grievance and Ethics Committee of the Honourable Supreme Court for appropriate disciplinary review and remedial action.

ACTIVA remains resolute in its commitment to the rule of law, judicial integrity and the orderly administration of justice. However, it will not acquiesce to actions that are arbitrary, unlawful, or inconsistent with the principles of fairness and due process. Such actions undermine not only the rights of affected parties but also run counter to the Government of Liberia’s ongoing efforts to attract foreign investment and create much-needed employment opportunities for Liberians.

On yesterday, Tuesday March 24^th, 2026, the Chamber Justice ordered the opening of the premises of ACTIVA, notwithstanding the Chamber Justice’s endorsement of the ruling of the Labor Court to the effect that ACTIVA must make payment of the outstanding balance in United States Dollars.

Considering that Liberian Dollars is a legal tender in Liberia, in ACTIVA’s mind, payment of judgment amount can be legally effected in Liberian Dollars. ACTIVA, therefore, finds it strange that a Court of Law in Liberia will reject and refuse payment of judgment, the Company however assures its clients, employees and all stakeholders that it remains resolute in its commitment to the rule of law.

Issued this 25nd day of March, 2026.

For and on behalf of ACTIVA INTERNATIONAL INSURANCE COMPANY OF LIBERIA

_____________________

Management

5th Street, Tubman Boulevard, Opposite Conex Gas Station, Sinkor, Monrovia, Liberia