INNOSON MOTORS ACQUIRES GTBank BY LEGAL WAR
The legal war between Innoson and Gtbank finally has its final verdict today. The legal war started when GTBank arrested the MD of Innoson with EFCC.
What brew the legal war was the fact that Innoson vehicle obtained a loan from Gtbank, the bank then went ahead to be debting Innoson vehicle account unwarrantably because of the loan obtained. This in turn led to court suing between both parties.
It was resolved by the court that GTBank should pay a sum of 2Billion naira, with a 22% annual interest. Instead of paying GTBank went to court again to appeal the case.
The appeal was lost which then led to the court to give a new verdict which makes Innoson vehicles to take over GTBank over N8. 7m naira judgement debt. The chairman of Innoson Group, Chief doctor Innocent Chukwuma, OFR has through a writ of Fifa taken over GTBank for and of behalf.
The writ of Fifa which implies that Innoson group will have the authority to seize and take over any property belonging to GTBank, which is sufficient to accumulate the sum owed.
Among those who voiced their opinion about the legal war is Femi Fani Kayode who tweeted that...
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