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Innoson Tells GTB: Stop Wasting Your Time... Convert The N8.8bn Debt Into Shares And hand It To Us | Sahara Reporters

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'Based on the foregoing and in furtherance of the letter to GTB by Counsel to Innoson Nigeria Ltd, McCarthy Mbadugha & Co on March 25th, 2019 that it pays the N2.4B Judgment debt to Innoson Nigeria Ltd with the accrued interest of N6,717,909,849.96, Innoson Nigeria Ltd therefore demands from GTB that if it’s banking operation will be seriously and adversely affected, and its capital base eroded as a result of the N8.8bn judgment debt, that it should as a matter of utmost urgency convert the said sum or part of it into shares and allot same to Innoson Nigeria Ltd. This will save taking it over in the manner Innoson is doing.'

Innoson Tells GTB: Stop Wasting Your Time... Convert The N8.8bn Debt Into Shares And hand It To Us

Speaking about the case on Monday, Cornel Osigwe, Public Relations Officer of Innoson, advised the bank to convert the debt into shares for Innoson insteading of engaging in wasteful and desperate means to prevent the execution of court's verdict. "In order to stop Innoson from continuing with taking over its assets in execution of the aforesaid judgment GTB approached the Federal High Court, Ibadan on Friday, 5th April 2019 and requested the court, through a motion, to stay execution and or for an injunction restraining Innoson from continuing with executing a judgment which the Supreme Court has affirmed when it dismissed the GTB’s appeal against the Court of Appeal’s decision affirming the High Court’s judgment and order in...

 

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Yes it is time for them to settle him because he has been patience all this while,and pray that they must surely pay him that money

Innoson has shown more maturity in this issue if the judgement had gone the other way I know innoson would have been closed by now.

Headline: Poor. Comments: Sectional and irrational. Content: Bland

Your headlines though

Unbelievable!So a fin. Institution like GT could be this outrageously stupid in meeting her financial obligations as at wen due? To d extent that they allowed interest of a debt 2.4B rise to the tune of 5.6B. Dis wat happens wen competence is divorced & sycophancy impregnated.

Is like innoson just finish that thing abi tramadol and weed before come up with this write up. You want to spoil the bank, middle finger to you. innosonvehicles

Its not such a bad offer really. Instead of raw payment of that sum, make the man that offer and its the best out of a bad situation.

HENRYINCORP Wise one and make sure you grab the controlling share.

Whatever dream that one has is a matter of time to allow it manifest. Innoson was so calm following this case till end. He didnt cut it short bcx of greed rather, he allowed patience to rule over him GTB wld ve settled out of court by paying Innoson whatever he demanded b4 now

Is innosson to determine how the money is to be paid?

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