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A Writ of Fieri Facias is a document issued by the court for the purpose of effecting court judgment on a debtor’s property. It is also the legal instrument by which the assets of a judgment debtor may be seized. “The Chairman of Innoson Group, Chief Dr. Innocent Chukwuma, OFR has through a Writ of FiFa taken over Guaranty Trust Bank PLC for and on behalf of Innoson Nigeria Ltd as a result of the bank’s indebtedness to Innoson Nigeria Ltd,” the statement said.
“Thus, the Court of Appeal affirmed the judgment of the Federal High Court, Ibadan Division which ordered GTB by way of Garnishee order absolute — to pay N2.4billion to Innoson with a 22% interest, per annum, on the judgment sum until the final liquidation of the judgment debt. Rather than obey the judgment of the Court of Appeal, GTB approached the Supreme Court to challenge the Court of Appeal’s decision,” the auto firm said.
“The Judgment debt of N2.4bn has an accrued interest as at today of about N6,717,909,849.96 which results to about N8.8 billion,” the statement said.
How is it still controversial when the Supreme Court gave a clear verdict? Do you know what you are talking about?
It is not controversial debt. gtbank was into the usual fraud that most Nigeria banks are involved in. The only difference now, is that they did it with a man who knows his numbers and has a good string legal team. Why did they harass the man this long?
Way to go, Sir! Dem go flog, dem go tire.
This is really not looking good gtbank_help gtbank gtbank_cards InnosonTakesOverGTB
This headline is misleading! If the supreme court had ruled it's a debt, then that's what it is. There is nothing controversial about it. Or are now more supreme than the supreme court?
Keep painting the story till innosonvehicles comes and take over too
This is absolute nonsense. Premium Times has really lost it. Shameful!
NamdyC
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BREAKING: N8.7bn debt: Innoson Motors moves to take over GTBank - Daily Post NigeriaInnoson Nigeria Limited, Nigeria's indigenous vehicle production company, has instituted a move to take over Guaranteed Trust Bank, GTB, following a ruling 😎😎😎😎😎 Gtbank it would have been better to loose the battle and win the war. I guess it is too late now. Innoson, according to an insider that knows him confided in me that, he is a v patient man. He can follow a case for life especially when he is very sure that, he will scale thru. I pity Jimi Agbaje bros He was warned but Yoruba factor against an Ibo man made him to fall in a pit
Source: DailyPostNGR - 🏆 11. / 59 Read more »
BREAKING: N8.7bn debt: Innoson Motors moves to take over GTBank - Daily Post NigeriaInnoson Nigeria Limited, Nigeria's indigenous vehicle production company, has instituted a move to take over Guaranteed Trust Bank, GTB, following a ruling 😎😎😎😎😎 Gtbank it would have been better to loose the battle and win the war. I guess it is too late now. Innoson, according to an insider that knows him confided in me that, he is a v patient man. He can follow a case for life especially when he is very sure that, he will scale thru. I pity Jimi Agbaje bros He was warned but Yoruba factor against an Ibo man made him to fall in a pit
Source: DailyPostNGR - 🏆 11. / 59 Read more »