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Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt (26048 Views)

Court Orders Sale Of Obat Oil’s Hotel To Offset N5 Billion Debt / Court To Restrain GTB From Deregistering Itself As A Limited Liability Company. / ₦69.4 Billion Debt: AMCON Takes Over Jimoh Ibrahim’s Assets (2) (3) (4)

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Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by Ayemileto(m): 7:06pm On Nov 30, 2020
Vaughanlanrewaj:

I was patiently reading until my eyes strayed to the author and I realised it is 'audio' court report on this criminal case as usual. Innosson will be writing 'their own' interpretation of the issue, playing to the gallery and carefully avoiding the forgery case against their principal,Mr 'Innocent' caught in the web of alleged forgery and theft .

Simple question; if the original documents used to bring in the goods in the name of GTB till date is still with GTB, what documents did you use to clear the goods you took loan from GTB to buy?

Why should innosson accomplices in the shipping company alone be punished for theft and forgery?

I know GTB as usual will not respond citing respect for the judicial process.

The courts should settle this issue. It is taking way too long.

Ordinary Nigerians are daily being sent to jail for even lighter offences, how this one simple case of forgery is taking years to resolve still remains a mystery and sign of how inept and unfair our justice system is.A thief is a thief, whether big or small. This is completely condemnable abeg.



Even if he had forged documents to clear the goods, does that give GTB the go ahead to over deduct his loan repayment by 522m?

2 Likes

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by mightyokwy(m): 7:11pm On Nov 30, 2020
Reference:


I am all for the law taking its course and as a nation we must be seen to doing what is right and living by the law but we must also recognize that both entities are important industry players and everything must be done to ensure mutually assured destruction is avoided.

I think the goverment should approach both parties under the table and knock heads together. The fallout of any destruction could be far reaching, beyond what is visible above the surface.
GTB don't want the case to end. They initially accepted out of court settlement and later reclined. The failure of that out of court settlement is what has lead them to where they are now. They neglected the man and called him illiterate.

2 Likes

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by Okuda(m): 7:11pm On Nov 30, 2020
stupeid nigerians always trying to power play. you lost the fight but you still wan see where u fit hook the man instead make you MDs, Directors and Chairman go Nnewi on chartered flight go dobale for the man. after una use efcc raid him house slap him wife...

4 Likes

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by KaptainAfrika: 7:13pm On Nov 30, 2020
Oluwa O ! Make I move my money.
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by olisaEze(m): 7:15pm On Nov 30, 2020
GTB shamelessly did the man dirty, now they’re being beaten at their own game because Magu has been kicked to d curb.

Inside life grin

3 Likes

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by opportunity0101(m): 7:16pm On Nov 30, 2020
Alright
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by Reference(m): 7:20pm On Nov 30, 2020
mightyokwy:

GTB don't want the case to end. They initially accepted out of court settlement and later reclined. The failure of that out of court settlement is what has lead them to where they are now. They neglected the man and called him illiterate.

Well, sometimes you have to be saved from yourself. No doubt some poor judgement out of a poor corporate sub culture pervading financial institutions generally but the threat overall in a fragile economy is real.
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by Oracleforce: 7:36pm On Nov 30, 2020
Sunnycliff:
It has been for them.

Yoruba people should pay my Igbo brother his money. Running from pillar to post is only increasing the interest rate.
Tribalism has destroyed your sense of judgment

3 Likes 1 Share

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by BabaIbo: 7:37pm On Nov 30, 2020
Abeg make dem do, make I know maybe I go move my money comot that bank go another one, since I already had it in mind before now.
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by bblakes(m): 7:47pm On Nov 30, 2020
[quote author=vankaid post=96596341]
Are you saying that the supreme court judgments referenced in the article didn't happen?

Is he running away from from his "alleged forgery case"?

And the court and GTB allowed him?

Whatever happened to that their EFCC Africa magic at his compound last time?

Why haven't we heard how he is now in prison because of the forgery?

Even if the "alleged forgery" case holds any water, GTB MUST first of all pay Innoson because that has been conclusively established by the supreme court that GTB must pay.

There is no other pathway out of it for them.

This their attempt at deregistering as LLC is the last resort but as you can see, that too has failed woefully.

GTB and whoever holds major stake with them by now knows they are in deep trouble.

The only people who is worried less are ethnic jingoist like you who looses nothing from the impending GTB downfall.

[/quote
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by kolexy(m): 7:50pm On Nov 30, 2020
Frenchkiss564:
Even without the debt, I don't think the intended deregisteration from a public limited liability company to a private limited company can stand the test of legality.

Pursuant to the provisions of the Bank and Other financial institution act and the recently passed finance Act. It is only public companies that can operate as commercial banks.


It is not new. It is not shareholders of the bank automatically becomes shareholders of the Holding company, while the bank is run as Ltd liability coy. First bank, FCMB and I believe Zenith Bank did the same.
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by josite: 7:50pm On Nov 30, 2020
This is what a bank gets when with the moneys she has ,she won't court wisdom spiced legal directions.pride they say goes before destruction.md's will now learn to.monitor closely the quantity and the quality of their legal departments.
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by nemynely(m): 7:53pm On Nov 30, 2020
ProfAmaben:


Isi mu zu e zu, ihem ne kwu wu na kaha mechie okwu a ofuma. Onwero ihe kari Udo, GTB ga akwu ya ugwo 32billion ya. Wota asusu 'm

Nwannem, ekwetaram na onwerọ̀ ihe karịrị udo. Dédé m Innoson bụ́ onye udo, mana GTB jii ụzọ na adịghị ezi ndị iche ni che inapụ ya ego nkaa.
Ga gụọ otu okwu a si bido. I ga nwọ̀ta na aka GTB adirọ ọcha. Ihe nile GTB na achọ bụ ótụ ha ga eji jụ ịkwụ Innoson ụgwọ ha ji ya, mana Chukwu Innoson mụ anya.

2 Likes

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by ProfAmaben(m): 7:57pm On Nov 30, 2020
nemynely:


Nwannem, ekwetaram na onwerọ̀ ihe karịrị udo. Dédé m Innoson bụ́ onye udo, mana GTB jii ụzọ na adịghị ezi ndị iche ni che inapụ ya ego nkaa.
Ga gụọ otu okwu a si bido. I ga nwọ̀ta na aka GTB adirọ ọcha. Ihe nile GTB na achọ bụ ótụ ha ga eji jụ ịkwụ Innoson ụgwọ ha ji ya, mana Chukwu Innoson mụ anya.

Innosson bu onye chukwu okike tere mmanu, onwero ihe ga emetu ta ya. GTB pere mpe, ego mu no na GTB, achorom I nu akuko grin

1 Like

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by Malawian(m): 8:08pm On Nov 30, 2020
This one is even part one of the whole buhaha. Their is still another hefty judgement sum against GTB from this same Innoson. The one that had to do with Nigerian Customs service.

That one is also in tens of Billions now. This is the real definition of double wahala.

4 Likes

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by naijadrivablog: 8:09pm On Nov 30, 2020
They wan file bankruptcy and start afresh. No way! Crooks!
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by PreyingMantis(m): 8:11pm On Nov 30, 2020
ProfAmaben:
Innosson bu onye chukwu okike tere mmanu, onwero ihe ga emetu ta ya. GTB pere mpe, ego mu no na GTB, achorom I nu akuko grin
Afonjas and Google Translator would be doing another battle at this juncture
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by Winneygirl(f): 8:19pm On Nov 30, 2020
Is it innoson that will give unbiased news in a matter regarding the company?

Mtcheww....
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by bluefilm: 8:32pm On Nov 30, 2020
GTBank should pay this man na.

Ordinary 32 Billion Naira is harding them to pay and they still want to claim they are a strong bank.

Strong bank my arse.

Nonsense. lipsrsealed

2 Likes

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by solonubinho(m): 8:53pm On Nov 30, 2020
Thievesss!!!! Pay up oleeeee!! Pay up.
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by PreyingMantis(m): 8:54pm On Nov 30, 2020
Winneygirl:
Is it innoson that will give unbiased news in a matter regarding the company?

Mtcheww....
Unbiased news What exactly are you rambling about?
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by emmyN(m): 9:12pm On Nov 30, 2020
Vaughanlanrewaj:

I was patiently reading until my eyes strayed to the author and I realised it is 'audio' court report on this criminal case as usual. Innosson will be writing 'their own' interpretation of the issue, playing to the gallery and carefully avoiding the forgery case against their principal,Mr 'Innocent' caught in the web of alleged forgery and theft .

Simple question; if the original documents used to bring in the goods in the name of GTB till date is still with GTB, what documents did you use to clear the goods you took loan from GTB to buy?

Why should innosson accomplices in the shipping company alone be punished for theft and forgery?

I know GTB as usual will not respond citing respect for the judicial process.

The courts should settle this issue. It is taking way too long.

Ordinary Nigerians are daily being sent to jail for even lighter offences, how this one simple case of forgery is taking years to resolve still remains a mystery and sign of how inept and unfair our justice system is.A thief is a thief, whether big or small. This is completely condemnable abeg.



Irrelevant questions and submission. The case has been thoroughly trashed out in court, and the proceedings are publicly available. Do yourself some good by making inquiries and stop airing ignorance about.

4 Likes

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by Anambra1stS0n: 9:14pm On Nov 30, 2020
Winneygirl:
Is it innoson that will give unbiased news in a matter regarding the company?

Mtcheww....
https://www.google.com/amp/s/www.thisdaylive.com/index.php/2020/11/30/n32bn-judgment-debt-innoson-urges-court-to-restrain-gtb-from-transmuting-into-private-financial-holding-company/amp/

1 Like

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by rajiedreez: 9:14pm On Nov 30, 2020
Are you saying that the judgement they cited which is against GTB isn't true
Vaughanlanrewaj:

I was patiently reading until my eyes strayed to the author and I realised it is 'audio' court report on this criminal case as usual. Innosson will be writing 'their own' interpretation of the issue, playing to the gallery and carefully avoiding the forgery case against their principal,Mr 'Innocent' caught in the web of alleged forgery and theft .

Simple question; if the original documents used to bring in the goods in the name of GTB till date is still with GTB, what documents did you use to clear the goods you took loan from GTB to buy?

Why should innosson accomplices in the shipping company alone be punished for theft and forgery?

I know GTB as usual will not respond citing respect for the judicial process.

The courts should settle this issue. It is taking way too long.

Ordinary Nigerians are daily being sent to jail for even lighter offences, how this one simple case of forgery is taking years to resolve still remains a mystery and sign of how inept and unfair our justice system is.A thief is a thief, whether big or small. This is completely condemnable abeg.


Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by Coinbased: 9:27pm On Nov 30, 2020
Oh
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by chidaddy1198(m): 9:49pm On Nov 30, 2020
My dear if only you understand the legality involved
Kobicove:
I don't see how transmuting from a Plc to a Limited liability company can be construed as a tactic to avoid a judgement debt.

The fact is that several banks in Nigeria including First Bank, FCMB, StanbicIBTC etc have adopted the Holdco structure therefore GTB's request should not evoke any special interest undecided
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by oluwemimo35349: 9:51pm On Nov 30, 2020
GTB shamelessly did the man dirty, now they’re being beaten at their own game because Magu has been kicked to d curb. Inside life

5 Likes

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by chidaddy1198(m): 9:51pm On Nov 30, 2020
Shy they are one of the big guys in the industry. They make over 170billion naira annually
diplomat058:
Hmm. I don't understand how transmutation would be that quick without ratification by a General Meeting. 32 billion debt stock looks pretty unsustainable for a financial institution like GTB, anyway.
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by Agrovalue1(m): 10:06pm On Nov 30, 2020
Vaughanlanrewaj:

I was patiently reading until my eyes strayed to the author and I realised it is 'audio' court report on this criminal case as usual. Innosson will be writing 'their own' interpretation of the issue, playing to the gallery and carefully avoiding the forgery case against their principal,Mr 'Innocent' caught in the web of alleged forgery and theft .

Simple question; if the original documents used to bring in the goods in the name of GTB till date is still with GTB, what documents did you use to clear the goods you took loan from GTB to buy?

Why should innosson accomplices in the shipping company alone be punished for theft and forgery?

I know GTB as usual will not respond citing respect for the judicial process.

The courts should settle this issue. It is taking way too long.

Ordinary Nigerians are daily being sent to jail for even lighter offences, how this one simple case of forgery is taking years to resolve still remains a mystery and sign of how inept and unfair our justice system is.A thief is a thief, whether big or small. This is completely condemnable abeg.

The courts have settled the issue. Let Gtbank pay the judgement debt. It's that simple.
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by otokx(m): 10:15pm On Nov 30, 2020
This is not good for GTB image.

1 Like

Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by bluecircle470: 10:26pm On Nov 30, 2020
rocknation62:
This matter still dey ground Make i go withdraw my last 1k for GbiTi Bank GTB before dem go use my money pay debt...

Tell it to the heavens, Gtbank will deal with them totally
Re: Court To Restrain GTB From Deregistering As A LLC To Avoid ₦32 Billion Debt by afube: 10:48pm On Nov 30, 2020
Vaughanlanrewaj:

I was patiently reading until my eyes strayed to the author and I realised it is 'audio' court report on this criminal case as usual. Innosson will be writing 'their own' interpretation of the issue, playing to the gallery and carefully avoiding the forgery case against their principal,Mr 'Innocent' caught in the web of alleged forgery and theft .

Simple question; if the original documents used to bring in the goods in the name of GTB till date is still with GTB, what documents did you use to clear the goods you took loan from GTB to buy?

Why should innosson accomplices in the shipping company alone be punished for theft and forgery?

I know GTB as usual will not respond citing respect for the judicial process.






The courts should settle this issue. It is taking way too long.

Ordinary Nigerians are daily being sent to jail for even lighter offences, how this one simple case of forgery is taking years to resolve still remains a mystery and sign of how inept and unfair our justice system is.A thief is a thief, whether big or small. This is completely condemnable abeg.






i know you do not believe that rubbish you just wrote! so the 5 or is it 7 judgements against GTB is unfair and partial, I did not know that lowly placed innosson was so powerful and influential.

2 Likes

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