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Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank (18991 Views)

Court Awards Honeywell N‎72.2 Billion Damages Against Ecobank / Court Awards ₦200 Million To Yobe Girl Electrocuted By MTN Cable / Nigerian Court Awards $10 Million Damages Against Shoprite For Contract Breach (2) (3) (4)

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Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Rechargeam247(f): 8:04am On Jul 21, 2023
Big businesses and debts ehn.
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by tamdun: 8:04am On Jul 21, 2023
FOOTSOLDIER2:
Dey play. Shey the whole of Ecobank worth 72bn ?

Yoruba oponu. Stop stealing our south south oil. We want to our Niger Delta republic
Baba to bí ẹ lomo loponu

3 Likes 1 Share

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Angelfrost(m): 8:04am On Jul 21, 2023
That's brutal... Some serious setback for the poor bank! grin

Their lawyers still got rich in the process... Shame!

2 Likes

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by DeLaRue: 8:05am On Jul 21, 2023
Poor business and legal risk management on Ecobank's part.

The freezing order came with an unquantified open-ended financial risk, yet Ecobank proceeded with obtaining the order.

Did Ecobank's lawyers not draw the bank's attention to the risk, or did it ignore advise.

They are likely to have the N72 billion reduced on appeal, but the whole judgement is unlikely to be overturned unless there are matters of law that we do not yet know about.

3 Likes

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by GloriousGbola: 8:07am On Jul 21, 2023
Ikaeniyan0:
They will likely appeal but the funny thing is that even Otudeko is owing Ecobank billions of naira. Well, is good for Eco bank, they gave out billions of naira to otudeko and didn't ask him for any meaningful collateral.

They need to start putting clauses in directors and ceos contracts. The ediats that signed off on this are long gone and their successors are stuck with the mess.

4 Likes

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Savechild23: 8:09am On Jul 21, 2023
They can’t pay
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Dbestbrest: 8:10am On Jul 21, 2023
Acekidc4:
Ecobank should Appeal the Judgement. There must be a very tangible reason for Ecobank to freeze the account.

Read this from the judgement given in favour of Ecobank "Ecobank had been granted an ex parte order to freeze Honeywell’s accounts in an attempt to wind up the company over its liabilities to the bank.

The ex parte order was granted with the condition that Ecobank would indemnify Honeywell’s over any losses.
"

Ecobank did not indemnify Honeywell during the period they freeze Honeywell account, hence, the reason why Honeywell went to bank to get judgement in their favour

3 Likes

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by happney65: 8:11am On Jul 21, 2023
Ikaeniyan0:
They will likely appeal but the funny thing is that even Otudeko is owing Ecobank billions of naira. Well, is good for Eco bank, they gave out billions of naira to otudeko and didn't ask him for any meaningful collateral.

Otudeko won't pay Shit. That Man wey no dey pay him gbese.

5 Likes

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by eldoradoxx: 8:11am On Jul 21, 2023
These days in Nigeria, judgements are bought and sold just as you buy roasted corn on the road.

2 Likes

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Nobody: 8:14am On Jul 21, 2023
I thought the matter has been settled at the Supreme Court, Biko Investors are not politicians(lawyers should stop giving false hope), I see this as a delay tactics not to execute the Judgement and I wonder if the Judge that gave this order is Ignorant of the Supreme Court Judgement .. the NJC need to see and look at the merit and demerit of this order. Better still they should reach an amicable settlement.
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Nobody: 8:14am On Jul 21, 2023
These people realy want to shutdown ecobank. Very unfair judgement
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Kukutenla: 8:15am On Jul 21, 2023
Xammie001:

DID YOU NOT SEE ECOBANK PLAYED INTO HONEYWELL HAND, PLEASE ALWAYS READ WELL BEFORE USING EMOTIONS NOW.
THE COURT EVEN SAID THEY WILL PAY HONEY WELL INCASE OF ANY LOSS DUE TO THE FREEZING OF THERE ACCOUNT
He's not using any emotions.
He's just a zombie who lacks ability to read and understand

1 Like

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by justking(m): 8:16am On Jul 21, 2023
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by LollyP94(m): 8:16am On Jul 21, 2023
Calabar1stSon:
Ecobank is a government bank so they'd literally flout the order.

Lol, says who?
It's a commercial bank bro. Not owned by Nigeria government.
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by IamANigerianMan: 8:22am On Jul 21, 2023
reiddecuti:
Only if the court order will be obeyed and implemented. Court judgement these days don't really carry weight except you're nobody.

Thanks to Buhari who have set record on disobeying court order and Tinubu who won't have the ball to do other wise or likely going to trade on his predecessor footsteps.


Nigeria judiciary is just a barking dog. Know this and have peace.
The problem is from Judiciary , how on Earth would you ordered a company to pay 72 billion for damage and you think the judgement would be obeyed even Eco bank sell all the asset it is not up to 72billion. The money in the bank are own by customers not Eco bank... Nigeria judiciary is becoming a laughing stock.

2 Likes

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by CharleyBright(m): 8:24am On Jul 21, 2023
Ikaeniyan0:
They will likely appeal but the funny thing is that even Otudeko is owing Ecobank billions of naira. Well, is good for Eco bank, they gave out billions of naira to otudeko and didn't ask him for any meaningful collateral.

You are correct. At least you seem to know a little about the true picture around the case. Not like many people who are commenting foolishly without understanding or having any idea of the issues around the case.
The fact is that the owner of Honeywell has simply bought judgement to enable him evade loan repayment as debt he owes ecobank.
He can simply tell the bank to used monies from the court judgement as the loan repayment.
Cunning people.

5 Likes

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Yankee101: 8:27am On Jul 21, 2023
You owe the bank money and don’t want to pay then you go to court shopping for judgements


Very few real rich men in nigeria without corner corner

1 Like

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Beigalodesigns(m): 8:29am On Jul 21, 2023
FreeBiafra2018:
grin Thank God my balance with that most useless Bank is only #207 before they will gather innocent people money to solve the problem of their stupidity.
Access bank did same to us a few days to acquire diamond bank back then ;
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by RexTramadol1: 8:30am On Jul 21, 2023
Acekidc4:
Ecobank should Appeal the Judgement. There must be a very tangible reason for Ecobank to freeze the account.



The story is crazy gan o. Person scam Ecobank ni
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by PortHarcourtcit(m): 8:37am On Jul 21, 2023
Calabar1stSon:
Ecobank is a government bank so they'd literally flout the order.

federal government bank or state government bank?
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by PortHarcourtcit(m): 8:39am On Jul 21, 2023
FOOTSOLDIER2:
Dey play. Shey the whole of Ecobank worth 72bn ?

Yoruba oponu. Stop stealing our south south oil. We want to our Niger Delta republic
the onus is not on you to speak for the Niger Delta people... So better rest...

3 Likes

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Weathered: 8:39am On Jul 21, 2023
Acekidc4:
Ecobank should Appeal the Judgement. There must be a very tangible reason for Ecobank to freeze the account.
they can only get reduction of fine. Their lawyer got a kangaroo order in the form of ex parte. Now it has come back to roast them.

5 Likes

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by NewDea4: 8:41am On Jul 21, 2023
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Iselogunise: 8:46am On Jul 21, 2023
I laugh in Spanish. grin grin grin grin

Did you just say government bank? Please, of which continent? grin

Calabar1stSon:
Ecobank is a government bank so they'd literally flout the order.

Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Buharidgeneral: 8:46am On Jul 21, 2023
So Honeywell should removed what is ownig Ecobank and pay the rest or vice versa.
But wait oo why did Ecobank lawyer agreed to that terms.
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Cantonese: 8:47am On Jul 21, 2023
Acekidc4:
Ecobank should Appeal the Judgement. There must be a very tangible reason for Ecobank to freeze the account.

Do not jump into comments just like that.
You know nothing about this long standing issue.
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by MrBroke(m): 8:51am On Jul 21, 2023
E go soon reach my turn grin
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Buharidgeneral: 8:51am On Jul 21, 2023
Dbestbrest:


Read this from the judgement given in favour of Ecobank "Ecobank had been granted an ex parte order to freeze Honeywell’s accounts in an attempt to wind up the company over its liabilities to the bank.

The ex parte order was granted with the condition that Ecobank would indemnify Honeywell’s over any losses.
"
This is serious.so Honeywell should deduct it from what's they are owning Ecobank and balance each other

Ecobank did not indemnify Honeywell during the period they freeze Honeywell account, hence, the reason why Honeywell went to bank to get judgement in their favour
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Acekidc4(m): 8:53am On Jul 21, 2023
Cantonese:


Do not jump into comments just like that.
You know nothing about this long standing issue.

Sorry Sir 🤐
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by wunmi590(m): 8:58am On Jul 21, 2023
Treasure17:
Honeywell cash out. I need to sue FirstBank for freezing my account illegally.

😆 how much do you have in the account, let me part of your legal team 🤣
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Daniluv1(m): 9:04am On Jul 21, 2023
Funny enough na ecobank customers go still pay that money grin grin grin grin

Una go soon begin see N10 debit steadily now
Re: Court Awards Honeywell ₦‎72.2 Billion Damages Against Ecobank by Manna4Gurls: 9:07am On Jul 21, 2023
Acekidc4:
Ecobank should Appeal the Judgement. There must be a very tangible reason for Ecobank to freeze the account.
Mechie onu. Anakogheri 🤕
Go do the research yourself if this 8yrs of judgement doesn't suit u

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