Hon. Justice Babs O. Kuewumi of the Federal High Court Lagos Division has granted an injunction against Mustasons Guest House Limited on Ajose Adeogun Street, Victoria Island, Lagos on the application of Asset Management Corporation of Nigeria (AMCON).

The court order, according to a statement, also restrained Alhaji Mustapha Aliyu Wushishi, the promoter of Mustasons Guest House Limited from the assets and properties of the guest house and another property situated at Plot 1111B, Amichi Close, Victoria Island, Lagos. Alhaji Wushishi and Mustasons Guest House Limited have been in court with AMCON over huge indebtedness of nearly half a billion naira.

Justice Kuewumi, the presiding judge while granting the order on the application of Mr. Idowu Ibrahim, counsel to AMCON, restrained Mustasons Guest House Limited and Wushishi, their directors, staff, management, employers, agents, officers, privies or any other person or group of persons whatsoever under the respondents’ authority or any other authority (however derived or sourced) from tampering with, selling, leasing, removing from the jurisdiction of the court or dealing in whatsoever manner with the respondents’ assets/properties situate at Mustasons Guest House Plot 91, Ajose Adeogun Street, Victoria Island Lagos and Plot 1111B, Amichi Close, Victoria Island respectively owned by the respondents.

“The court therefore granted AMCON (claimant/applicant) the powers to take possession of the assets/properties of Mustasons Guest House Limited and Alhaji Wushishi as listed in the order paper. Justice Kuewumi also ordered the freezing of all the identifiable and/or traceable accounts of the respondents either current, savings, fixed deposit, domiciliary, howsoever tagged with various banks and financial institutions both in Nigeria and abroad and a consequential order, mandating all the banks and financial institutions to furnish AMCON (through its solicitors) details of the respondent’s accounts domiciled with them within seven days of the service of the court order,” the statement added.

Confirming that AMCON had taken over the assets and property since March 7, 2017, Head, Corporate Communications, AMCON, Jude Nwauzor, said: “The debt is long overdue and before we got to this stage we had patiently tried to resolve the matter without going to court; but as you can see all efforts by the Corporation to get the obligor to repay the indebtedness have proved abortive.

Therefore having exhausted all avenues of peaceful resolution, there was no other option available to us than to commence enforcement action against Mustasons Guest House Limited and its promoter as provided under Section 49-52 of the AMCON Act.”

READ MORE HERE http://kleeqers.com/forum/politics/3419-court-orders-amcon-to-take-over-guest-house

*In British accent*
You poor thing.
Sorry bruv.


In other news!!! FTC this is my first time ever and I dedicate this to myself, my great grandma that died in 2009, my Dad who has always been supportive of my dream of FTC, and to all members on Nairaland. . .Boooy. . .we are one big family. See you on another FTC

ok

Bubu must go

I WANT TO SELL THIS SPACE.

"Alhaji Wushishi and Mustasons Guest House Limited have been in court with AMCON over huge indebtedness of nearly half a billion naira."

.... For those of you who are fond of borrowing money without paying back

I DECREE AMCON will take over your destiny


oya Christians shout AMEN!!!

A RESOUNDING AMEN


A. LA.LASTICLALA AMEN

Ok

Cool

Awon onigbese!....nice one AMCON

abeg, Wats d work of AMCON

oluwasegun007:
abeg, Wats d work of AMCON

loan recovery

Ok

time to enjoy with borrowed money ,and time of going back to base zero

recievesense:


loan recovery

OK..tanx

obembet:
Bubu must go

..... ....Delicious Breakfast on Banana Tree

Guest House oweing 500 million Nigerian Naira?

This is good news for Democracy

Most of our "big men" have been flexing on top borrowed money.

Nigeria is truly a zoo like Kanu said. the so called rich pple go to different banks take loans without collateral use it to fund their yeye lifestyles. and one yeye Amcon comes to save the useless banks and transfer the burden to tax payers. nonsense

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Alhaji wushishi, go and pay your debt or the property will be sold.

Borrowing money and refusing and/or unable to pay is called corruption

oluwasegun007:
abeg, Wats d work of AMCON

To buy over the debts of corporations from various banks and seek for ways to get their money back.

ednut1:
Nigeria is truly a zoo like Kanu said. the so called rich pple go to different banks take loans without collateral use it to fund their yeye lifestyles. and one yeye Amcon comes to save the useless banks and transfer the burden to tax payers. nonsense

Mr Ednut ihaff vexed!

unofficial:


Mr Ednut ihaff vexed!

guy i don tire for dis una zoo