has taken over assets belonging to Glano Nigeria Limited over a huge indebtedness of over N2 billion.AMCON, which is established to recover bad debt on behalf of the federal government of Nigeria, has been in an endless court battle with Glano Nigeria Limited and its promoters since 2016 but had waited patiently till 2018.
In compliance with the enforcement order, AMCON on Thursday, 6 April, took effective possession of Glano Nigeria Limited property located at No. 22 Woji Road Port Harcourt, the Rivers State Capital, which had been under the management of Sterling Law Alliance since 2019. Since then, AMCON has offered the obligor a good measure of olive branches and explored all avenues to resolve the matter amicably, but the obligor and his company, Glano Nigeria Limited, remained recalcitrant and unwilling to repay the huge debt to the Corporation.
The corporation eventually enforced the properties on 6 April as ordered by the Federal High Court. The enforcement according to him was carried out seamlessly especially as the court had also directed the Nigerian Police Force, officials of the court, and other security agencies to assist AMCON in securing the assets.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Source: LeadershipNGA - 🏆 4. / 77 Read more »
Source: DailyPostNGR - 🏆 11. / 59 Read more »