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Raymond Dokpesi Declared Bankrupt. - Celebrities - Nairaland

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Raymond Dokpesi Declared Bankrupt. by Nobody: 12:02am On Nov 18, 2011
I read in the national dailies recently that Fidelity bank declared the media tycoon bankrupt. Now i'm wondering how come as i kept asking myself if both T.V and Radio stations are not profitable enough even after a huge inflow a cash derived from DAAR's IPO. An ipo is the dream of any enterpreneur worth his onions. Or is it as a result of a financially unhealthy lifestyle with 4 wives and God knows how many concubines.
I guess i can never come up with a suitable answer.
Re: Raymond Dokpesi Declared Bankrupt. by BootyOnMe: 12:43am On Nov 18, 2011
Typical Naija business man.
"Questionably" rich today. . . .poor tomorrow! cheesy

RAAAAAAAAAAAAAAAAAAAAAY PAWA FAILURE!!!!!
Re: Raymond Dokpesi Declared Bankrupt. by r231(m): 12:43am On Nov 18, 2011
na lie
Re: Raymond Dokpesi Declared Bankrupt. by Outstrip(f): 6:13am On Nov 18, 2011
How does a bank declare someone bankrupt
Re: Raymond Dokpesi Declared Bankrupt. by Basics007: 7:22am On Nov 18, 2011
Outstrip:

How does a bank declare someone bankrupt
Exactly my thought
Re: Raymond Dokpesi Declared Bankrupt. by Nobody: 9:39am On Nov 18, 2011
You will be declared as such if your Liabilities exceed Assets and you have defaulted on your loans. Remember his media outfits were shut down for the same reason some years back.
Re: Raymond Dokpesi Declared Bankrupt. by scopusng(m): 9:44am On Nov 18, 2011
Halalalalala. I laugh in my native language. You expect a bank to declared somebody bankrupt? Never.
Re: Raymond Dokpesi Declared Bankrupt. by Exponental(m): 9:45am On Nov 18, 2011
Fidelity is nt d only bank he definitely uses. He probably has intention of closing acct with d bank.

If oda banks or cbn declares ds, then it can be ascertained.
Re: Raymond Dokpesi Declared Bankrupt. by Okijajuju1(m): 9:50am On Nov 18, 2011
I would be shocked if he is sha!!

But I think he needs to step up his game in AIT and DAAR should he wish to remain in business.
Re: Raymond Dokpesi Declared Bankrupt. by Kx: 10:05am On Nov 18, 2011
DonChippy:

You will be declared as such if your Liabilities exceed Assets and you have defaulted on your loans. Remember his media outfits were shut down for the same reason some years back.
That is for the court to decide, not Fidelity bank or any other.
Re: Raymond Dokpesi Declared Bankrupt. by GoldCircle: 10:24am On Nov 18, 2011
This High chief is a financial rascal! was at a function just after the IPO some years ago and he was spraying dollars like there's no tomorrow. I also understand that his third foot is very restless. always looking for somewhere to run into. wink[size=5pt]if you know what i mean[/size]

not surprised at all!
Re: Raymond Dokpesi Declared Bankrupt. by llbhuds: 10:33am On Nov 18, 2011
GoldCircle:

This High chief is a financial rascal! was at a function just after the IPO some years ago and he was spraying dollars like there's no tomorrow. I also understand that his third foot is very restless. always looking for somewhere to run into. wink[size=5pt]if you know what i mean[/size]

not surprised at all!

guy u bad oooo
Re: Raymond Dokpesi Declared Bankrupt. by Claus(m): 10:39am On Nov 18, 2011
Kx:

That is for the court to decide, not Fidelity bank or any other.

Seconded! It's the court that declares a person bankrupt, not the creditor(s).
Re: Raymond Dokpesi Declared Bankrupt. by Wexelion(m): 10:43am On Nov 18, 2011
GoldCircle:

This High chief is a financial rascal! was at a function just after the IPO some years ago and he was spraying dollars like there's no tomorrow. I also understand that his third foot is very restless. always looking for somewhere to run into. wink[size=5pt]if you know what i mean[/size]

not surprised at all!

lol,always running into damp areas.
Re: Raymond Dokpesi Declared Bankrupt. by youngmonie: 10:44am On Nov 18, 2011
Cmmon its not a new thing in Nigeria for Federal Government  to delay  payments  for contracts. Cmmon this guy won the righs to broadcast the U-17 back then and up till now the guy is still fighting to get AIT's money paid (sai all u want whether he supported IBB  or not) this is business. And lucky for him AIT is listed on the stock exchange, its a public company.smart guy if  he business runs down  not his wahala!!.he has other businesses jus dat AIT is his major investment
Re: Raymond Dokpesi Declared Bankrupt. by femmy2010(m): 10:45am On Nov 18, 2011
DonChippy:

I read in the national dailies recently that Fidelity bank declared the media tycoon bankrupt. Now i'm wondering how come as i kept asking myself if both T.V and Radio stations are not profitable enough even after a huge inflow a cash derived from DAAR's IPO. An ipo is the dream of any enterpreneur worth his onions. Or is it as a result of a financially unhealthy lifestyle with 4 wives and God knows how many concubines.
I guess i can never come up with a suitable answer.

I thought it is only a court that can declare one bankrupt?
Because he does not have cash in fidelity banks does not mean he does not have in other banks.
Re: Raymond Dokpesi Declared Bankrupt. by TenKobo1: 10:46am On Nov 18, 2011
whereas i agree that it is a matter for the court, i will not be surprised if he is decleared bankrupt. that could have been the cause of the IBB for president desperation some months back
Re: Raymond Dokpesi Declared Bankrupt. by anishe(m): 10:48am On Nov 18, 2011
Dokpesi is a self declared bankrupt long ago. The proceeds of the IPO was used to organise owambe for Moji. He owes his staff over 5 months salary.

EFCC please take action.
Re: Raymond Dokpesi Declared Bankrupt. by Pukkah: 10:50am On Nov 18, 2011
DonChippy:

I read in the national dailies recently that Fidelity bank declared the media tycoon bankrupt. Now i'm wondering how come as i kept asking myself if both T.V and Radio stations are not profitable enough even after a huge inflow a cash derived from DAAR's IPO. An ipo is the dream of any enterpreneur worth his onions. Or is it as a result of a financially unhealthy lifestyle with 4 wives and God knows how many concubines.
I guess i can never come up with a suitable answer.

You got some things mixed up here.

Fidelity Bank is in court requesting that Mr Dokpesi be declared bankrupt for his alleged inability to repay some facilities (estimated at about N7.5billion) which it offered to Daar Communications.

If the request of Fidelity is granted, Mr Dokpesi will be declared bankrupt by the court. It is only a court that can declare a company or an individual bankrupt.
Re: Raymond Dokpesi Declared Bankrupt. by Pukkah: 10:54am On Nov 18, 2011
DonChippy:

I read in the national dailies recently that Fidelity bank declared the media tycoon bankrupt. Now i'm wondering how come as i kept asking myself if both T.V and Radio stations are not profitable enough even after a huge inflow a cash derived from DAAR's IPO. An ipo is the dream of any enterpreneur worth his onions. Or is it as a result of a financially unhealthy lifestyle with 4 wives and God knows how many concubines.
I guess i can never come up with a suitable answer.

It is indeed possible for a business to fail even after an IPO. IPOs do not guarantee the success of a business.

Besides, polygamy does not automatically translate to a 'financially unhealthy lifestyle'. Does that imply that those who own/run successful post-IPO businesses or companies are not polygamous or have concubines?
Re: Raymond Dokpesi Declared Bankrupt. by bisiaet: 10:54am On Nov 18, 2011
Please! Please!! & Please!!! Posters how would a Bank declare someone Bakrupt? Please let be honest does it sound like a common sense talk?

I never heard such ever that Bank would just wake up and say so and so of my customer is bankrupt beside a person of Raymond status just like that to the world?? If its true the Bank said it then something is really wrong soemwhere.
Re: Raymond Dokpesi Declared Bankrupt. by KejiOJ(m): 10:55am On Nov 18, 2011
Make he no bankrupt remember , Daar sat shareholder stiil dey expect there dividend
Re: Raymond Dokpesi Declared Bankrupt. by Pukkah: 10:59am On Nov 18, 2011
Keji OJ:

Make he no bankrupt remember , Daar sat shareholder stiil dey expect there dividend

Ordinary shareholders can only expect dividends if the company in which they invested is able to make profits. Remember that you're taking a risk when you are buying shares.
Re: Raymond Dokpesi Declared Bankrupt. by corkpikin(m): 11:48am On Nov 18, 2011
in a wrong thread angry
Re: Raymond Dokpesi Declared Bankrupt. by BCuZiMBlaCk(m): 12:07pm On Nov 18, 2011
Just peeping
Re: Raymond Dokpesi Declared Bankrupt. by Nobody: 12:12pm On Nov 18, 2011
This what you get for not supporting Retardeen, GEJ. He supported Boko-haram leader IBB tongue
Re: Raymond Dokpesi Declared Bankrupt. by Nobody: 12:15pm On Nov 18, 2011
Pukkah:

Ordinary shareholders can only expect dividends if the company in which they invested is able to make profits. Remember that you're taking a risk when you are buying shares.
Re: Raymond Dokpesi Declared Bankrupt. by Nobody: 12:32pm On Nov 18, 2011
Point still remains the same however you look at it. The fact still remains. He owes a lot of money he's unable to pay back even after a public offering.
Re: Raymond Dokpesi Declared Bankrupt. by Pukkah: 1:47pm On Nov 18, 2011
DonChippy:

Point still remains the same however you look at it. The fact still remains. He owes a lot of money he's unable to pay back even after a public offering.

The point is not the same.  Try not to be defensive.  Relax and learn.

The inability to pay back loans has to be proved. It is not something you can just say or write about.  In fact, it is libelous or slanderous if the statement is found to be untrue or baseless. So far, he may just be unwilling to pay. Inability is not the only reason that can make a borrower default on loan repayment.

Mind you, it was DAAR Communications that did an IPO and not Mr Dokpesi. You know the case of Salomon vs Salomon?

Declaring someone or a company as bankrupt is not a piece of cake.  Do you know that such an individual can no longer hold elective positions?
Re: Raymond Dokpesi Declared Bankrupt. by plaetton: 1:54pm On Nov 18, 2011
The banks took him to court to force him into bankruptcy and evenetual liquidation so that they can recover some assets. The guy owes 13b to the banks, but he is claiming that he only owes 8b without the interest and penalties. The court agreed with thte banks. So bankrupcy is inevitable.
But the banks are very reckless for lending this guy that kind of money for a media business in a stagnating economy. As far back as 10yr ago, anyone could have predicted this mess. I predicted it. I know it took cnn about 20yrs to start making profit, and I wondered how AIT was going to make a profit with the money it borrowed. I pity those who bought into his hype and bought shares.
Great ambition but unrealistic expectations.
Re: Raymond Dokpesi Declared Bankrupt. by Pukkah: 1:59pm On Nov 18, 2011
plaetton:

The banks took him to court to force him into bankruptcy and evenetual liquidation so that they can recover some assets. The guy owes 13b to the banks, but he is claiming that he only owes 8b without the interest and penalties. The court agreed with thte banks. So bankrupcy is inevitable.
But the banks are very reckless for lending this guy that kind of money for a media business in a stagnating economy. As far back as 10yr ago, anyone could have predicted this mess. I predicted it. I know it took cnn about 20yrs to start making profit, and I wondered how AIT was going to make a profit with the money it borrowed. I pity those who bought into his hype and bought shares.
Great ambition but unrealistic expectations.

You see, when banks tell entrepreneurs that there are very few bankable projects in Nigeria, ignorant people abuse them and hurl insults at them that they don't want to support Nigerian businesses.

While I won't hastily pass judgement on the banks involved in this matter, let's see what they are holding against the loans first. Like you said, the signs are ominous for Mr Dokpesi, Daar and its shareholders.
Re: Raymond Dokpesi Declared Bankrupt. by plaetton: 2:21pm On Nov 18, 2011
It was long overdue. I heard that Ibori had saved him DAAR from bakruptcy a while ago by pumping undisclosed billions of naira into it. Dokpesi himself had admitted it publicly.

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