By Precious D. Freeman
Banjak Frozen Food and MS Global Company have successfully resolved their protracted commercial dispute regarding the supply of defective frozen chicken.
The settlement comes after MS Global acknowledged its liability for twelve 40-foot containers of substandard frozen chicken supplied to Banjak.
Under the terms of the agreement, MS Global will deduct $140,234.50 from the original claim of $467,103.50, resulting in a remaining balance of $326,860.
Banjak has made a payment of $164,860 against this balance, leaving an outstanding amount of $162,000.
The dispute arose when MS Global initially denied responsibility for the defective shipments, which included chicken upper backs, carcasses, and fish.
Banjak consistently argued that it had paused payments only until MS Global recognized the defects, a position that MS Global has now accepted.
Banjak has historically maintained a strong business relationship with MS Global, characterized by timely payments for all previous deliveries.
However, staff at Banjak expressed concerns about misinformation spread on social media by MS Global, which they claim has tarnished their reputation and resulted in significant financial losses, as some international suppliers have begun to lose trust in the company.
A representative from Banjak stated, “We stopped payment only because MS Global initially refused to admit the shipments were faulty. Their public claims have hurt our reputation. Accepting such defective products would have led to a fall in sales and reduced revenue.”
Both parties were represented by legal teams during the settlement discussions. Banjak’s representation included lawyers from Heritage Partners and Associates, while MS Global was represented by Justice Advocates and Partners.
The claim had originally been raised by Cllr. Albert S. Sims, Attorney-In-Fact for MS Global.
Cllr. Sims noted that Banjak had promptly discharged its obligations for the first two consignments of commodities, totaling 48 tons valued at $66,340.
However, he expressed disappointment over the delays in payments for the twelve containers of frozen food, which he valued at $467,013.50.
In response, Banjak acknowledged receiving the containers but maintained that they were defective. Banjak was willing to make the payment contingent upon a reduction in the price of the commodities supplied.
With the dispute now resolved, both companies aim to rebuild their partnership and restore trust among stakeholders.
Banjak looks forward to resuming normal operations and enhancing its relationships with international suppliers.
The amicable resolution highlights the importance of clear communication and accountability in commercial transactions, ensuring that both parties can move forward positively in their business endeavors.
