N1bn Imo debt: Court grants leave for 17 banks to show cause not to garnishee state accounts - Vanguard News

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N1bn Imo debt: Court grants leave for 17 banks to show cause not to garnishee state accounts vanguardngr.com vanguardnews

The garnishee order is a common form of enforcing a judgment debt against a creditor to recover money.

Justice Bello Kawu made the order on Thursday in a motion exparte filed by two judgment creditors, E.F. Network Nig Ltd and Mr Gideon Egbuchulam respectively.The applicants prayed the court to order the banks to appear before it within 14 days of service to show cause why they should not pay over to the judgment creditor the N1 billion owed them by Imo state government.

The leave followed the March 8 decision of the Supreme Court that affirmed the judgment of the Court of Appeal Owerri which ordered the state defendants to pay the N1 billion contract debt owed the applicants. The court therefore, went ahead to order the Imo State Governor and the other appellants in the appeal to immediately pay the firm and its promoter, Egbuchulam the judgment sum.

 

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