This Innoson GTB drama has been playing out since 2012 , check here for full details

https://www.premiumtimesng.com/promoted/248936-innoson-vs-gtbank-no-application-issuance-bench-warrant-innocent-chukwuma.html

GTB closed 2016 with total assets of N3.12 trillion with a growth of 23.4% one of the top industry growth records, I think they can pay up na, what do you think?

Mztarstrechy:
Innoson Vs GTB Gets Messier

Like a commandor style, GTB via EFFC stormed Innoson Enugu residential home,arrested and transferred him to Lagos like a common criminal without any prior invitation.

As a result,hundreds of factory workers from Innoson factory Emene Enugu staged a protest over what they described as the illegal arrest of Innoson and his transfer to Lagos by EFCC organised by GTB.

More details coming shortly.


Source: http://www.trezzyhelm.com/2017/12/innoson-vs-gtb-gets-messierefcc-arrest.html?m=1

Even if the original poster made the post with grammatical blunders, you did not see the wisdom in correcting them in your own post? When government decides to regulate blogging and push 'copy and paste' reporters like you out, you will start staging senseless protests.

THE GENESIS OF THE WITHDRAWN ALLEGATIONS; SETTING THE RECORD STRAIGHT.

At all material time, Innoson Nigeria Ltd. was a customer of Guaranty Trust Bank Plc. Sometime in 2012, Innoson discovered that GTBank had arbitrarily imposed and debited its current account to the tune of N700 million in excessive and unlawful charges.

Despite a series of complaints and demand for reversal of the illegal charges, a defiant GTBank refused to refund the N700 million to Innoson.


Consequently, Innoson sued GTBank before the Federal High Court in Awka, Anambra State.

Delivering judgement in suit number: FHC/AWK/CS/139/2012, the FHC awarded N4.7 billion to Innoson Motors against GTBank. The court also ordered GTBank to pay 22 percent interest on the judgment debt until all the payment had been made to Innoson.

GTBank challenged the judgement at the Court of Appeal, Enugu Division. The appeal number is: CA/E/288/2013.

However, on December 9, 2014, the Court of Appeal upheld the judgement of the FHC and ordered GTBank to pay its debt to Innoson into an interest-yielding account operated by the court. By then, the debt had accumulated to over N6 billion.

Similarly, the Federal High Court, Ibadan Division, in a garnishee order absolute made on July 29, 2011, ordered GTBank to pay N2.4 billion to Innoson. The case number is: FHC/L/CS/603/2006.

Also, the Court of Appeal, Ibadan Division, in its judgment of February 6, 2014 affirmed the decision of the FHC and ordered GTBank to pay N2.4 billion. The appeal number is: CA/I/258/2011.

Based on the numerous judicial pronouncements to the appellate levels, GTBank was indebted to Innoson Motors up to N8.5 billion as at 2013/2014.

In its various affidavits, particularly at the Court of Appeal in suit number: CA/E/288/2013, GTBank deposed that if it pays the outstanding judgment debt of N6 billion, much less the N8.5 billion, it could go bankrupt and be out of business.

Consequently, in order to save itself from paying the outstanding judgment debts to Innoson, the bank filed a petition which led to the suit No: FHC/L/565C/2015 – which was properly and competently withdrawn by the police on February 17, 2016 as stated above.

https://www.google.com.ng/amp/s/www.premiumtimesng.com/promoted/248936-innoson-vs-gtbank-no-application-issuance-bench-warrant-innocent-chukwuma.html/amp

sarrki:


Sir read again

He's in Lagos

It may be that of Efcc ,sympathizers or anyone

Being a car maker is not a must to use your brand

Though its good to be an ambassador of your brands

You are one of the many Nigerians who hate reading and lack comprehension.

You should read the article again. But this time, slowly. Line after line.

israelmao:


But grammar has rules and no one knows it all.We live to learn and we learn to live.

I tell you bro.. I was actually polite to him..
But he was rude men.

And what English is "like a commandor style"?

sarrki:
I don't like this

FG should steps in

The workers and other local investors will be discouraged

Having said that I am not in support of not paying back loans

The way most of these banks go about their debt recovery without giving customers the option of restructuring or %age write off is best left to imagination.They've killed some entrepreneurs directly and physically (who remembers the case of Late Alaba Job of Mobitel)
This is the reason I posted somewhere that I hated Access bank and one idiot had the ignorant effrontery to abuse me in return.Of course I gave it to his father and his generation so that he will learn not to talk about issues about people he has never walked in their shoes

Bizibi:
As a biz man,I have tried my nest not to borrow money from any Nigeria banks,the stress alone can give one hbp

Even with their sky-high interest rates, they still treat clients like poo. Crazy.

I thought it was GTB that was owing him and not him owing them ..

bugidon:
Buhari and his cohorts will not succeed

Is Buhari the owner of GTB? Is Buhari a member of the Agbaje family that owns most shares in GTB?

Mysselff2:


The way most of these banks go about their debt recovery without giving customers the option of restructuring or %age write off is best left to imagination.They've killed some entrepreneurs directly and physically (who remembers the case of Late Alaba Job of Mobitel)
This is the reason I posted somewhere that I hated Access bank and one idiot had the ignorant effrontery to abuse me in return.Of course I gave it to his father and his generation so that he will learn not to talk about issues about people he has never walked in their shoes

The last I remember it was GTB that was owing Innosson based on a garnishe court order

From what I read so far my understanding is that both Innoson and GTB have pending case in appeal court. There were earlier judgments in favour of Innosin. This development is stemming from these on going legal battles.

wapu:
THE GENESIS OF THE WITHDRAWN ALLEGATIONS; SETTING THE RECORD STRAIGHT.

At all material time, Innoson Nigeria Ltd. was a customer of Guaranty Trust Bank Plc. Sometime in 2012, Innoson discovered that GTBank had arbitrarily imposed and debited its current account to the tune of N700 million in excessive and unlawful charges.

Despite a series of complaints and demand for reversal of the illegal charges, a defiant GTBank refused to refund the N700 million to Innoson.


Consequently, Innoson sued GTBank before the Federal High Court in Awka, Anambra State.

Delivering judgement in suit number: FHC/AWK/CS/139/2012, the FHC awarded N4.7 billion to Innoson Motors against GTBank. The court also ordered GTBank to pay 22 percent interest on the judgment debt until all the payment had been made to Innoson.

GTBank challenged the judgement at the Court of Appeal, Enugu Division. The appeal number is: CA/E/288/2013.

However, on December 9, 2014, the Court of Appeal upheld the judgement of the FHC and ordered GTBank to pay its debt to Innoson into an interest-yielding account operated by the court. By then, the debt had accumulated to over N6 billion.

Similarly, the Federal High Court, Ibadan Division, in a garnishee order absolute made on July 29, 2011, ordered GTBank to pay N2.4 billion to Innoson. The case number is: FHC/L/CS/603/2006.

Also, the Court of Appeal, Ibadan Division, in its judgment of February 6, 2014 affirmed the decision of the FHC and ordered GTBank to pay N2.4 billion. The appeal number is: CA/I/258/2011.

Based on the numerous judicial pronouncements to the appellate levels, GTBank was indebted to Innoson Motors up to N8.5 billion as at 2013/2014.

In its various affidavits, particularly at the Court of Appeal in suit number: CA/E/288/2013, GTBank deposed that if it pays the outstanding judgment debt of N6 billion, much less the N8.5 billion, it could go bankrupt and be out of business.

Consequently, in order to save itself from paying the outstanding judgment debts to Innoson, the bank filed a petition which led to the suit No: FHC/L/565C/2015 – which was properly and competently withdrawn by the police on February 17, 2016 as stated above.

https://www.google.com.ng/amp/s/www.premiumtimesng.com/promoted/248936-innoson-vs-gtbank-no-application-issuance-bench-warrant-innocent-chukwuma.html/amp

na wa o!
I understand why dangote plc and others patronise foreign financial outlets

sarrki:
I don't like this

FG should steps in

The workers and other local investors will be discouraged

Having said that I am not in support of not paying back loans

Sometimes you dey get sense sarki

sarrki:


Keep quiet

This is politics section

Not English class

This is the type of empty ramblings that stop this country going anyway.
Mr I can't make mistakes.
Just simply say thnx for the correction n say it was a typo.
Then shut your mouth the fuuckup

plz you guys should get information before concluding that it is about borrowing . Typical Nigerian behaviour. https://www.premiumtimesng.com/promoted/248936-innoson-vs-gtbank-no-application-issuance-bench-warrant-innocent-chukwuma.html

chloride6:


You shutup .

Bad English is prohibited in this forum.

Bad English or torenchi

Is English your Mother Tongue

Criminals has no other name than criminal. Which one is common criminal. To borrow money nobody here don't know why its too hard to pay after agreements.

Actions like this will continue to kill businesses in Nigeria. God help Naija.

mazimee:
Nigerian security operatives always act like thugs at every slightest opportunity.

Believe me, Nigeria will never get it right with anything.

Hahahaha. Who are you that we must believe you that Nigeria will not get it right? The first thing a rational person need to do is find out the facts and not just respond the way you did.

EFCC picked him up becsuse cause they they feel he comitted fraud getting illegal waivers.

A lot of people don't know the full details but a usual people will blame the banks.

Banks has a duty to maximize return to shareholders and also preserve capital and Innoson's arrest shouldn't ground his business unless he is running a one minute show like hi pot bellied brother ifeanyi uba which also is a huge business/investment risk for any credible investor looking to do business with him.

I mean the MD of Fidelity was arrested one time to clear his involvement in the Dieziani case and Fidelity didn't close shop neither did their workers come and post on social media

For reasons of confidentiality I would say what I know about the case all I can say is Innoson got what was coming to him and let him go and fulfill his outstanding obligation.

Gtb is fast eroding the values of her founding fathers.gtb was a bank founded on strong ethics and values.can same still be said of gtb.

wiseEast:


Bad English or torenchi

Is English your Mother Tongue

Rules are rules. Let sarrki create his own forum if he cannot compose error free sentences.

I don't know how people respect the opinion of someone who can not even express himself properly.

English is the official language of instruction and administration, and anybody who does not deem it's proper command as important should not be taken seriously.

How can Nigeria change when you can not even invest in yourself? Stop making simple English look like stem cell research

Innoson is a Criminal

Naijaaaaaaaaaaaaa. Politics over business.

God punish all evil people

Why do we like to borrow and refuse to pay back? Most especially, our billionaires. Remember the case of that albino rat, twitter senator. Shame!

samvega:
This Innoson GTB drama has been playing out since 2012 , check here for full details

https://www.premiumtimesng.com/promoted/248936-innoson-vs-gtbank-no-application-issuance-bench-warrant-innocent-chukwuma.html

GTB closed 2016 with total assets of N3.12 trillion with a growth of 23.4% one of the top industry growth records, I think they can pay up na, what do you think?

Bro pls don't mislead people.....the information in the link is from the corporate communications dept of Innoson so surely it will be in thier favour.

sarrki:
I don't like this

FG should steps in

The workers and other local investors will be discouraged

Having said that I am not in support of not paying back loans

you mean the fg that is dull should step in.

Dem take demonstrations and protests sware for us?

Workers please get to work, that is what you are employed to do!

Your boss is capable of handling this.
Let him sue EFCC, GTB, and all relevant government agencies and head to demand his right.

This is against the provisions of the Administration of Criminal Justice Act

samvega:
This Innoson GTB drama has been playing out since 2012 , check here for full details

https://www.premiumtimesng.com/promoted/248936-innoson-vs-gtbank-no-application-issuance-bench-warrant-innocent-chukwuma.html

GTB closed 2016 with total assets of N3.12 trillion with a growth of 23.4% one of the top industry growth records, I think they can pay up na, what do you think?

Gtbank be grasping at straws. they must pay Innoson the money awarded him by court