₦airaland Forum

SuperS1Panther:
Pigidiotic Osus and Ojukwus want to win court case online instead of facing the real court.

Shameless debtor looking for ways to rob our bank tactically.

God forbid.

the case has been warned already if you know the law

the court want to be in custody of the cash involved so as not to continue to calculate interest as time goes on.

Innoson warn the case in the Court of Appeal .

Supreme court threw away their motion and ask them to obey the court of appeal by paying to the court the said amount now 12billion

maestroferddi:
With due respect, I don't think the management of GT Bank are acting smart on this lingering issue.

Why not pursue an out of court resolution?

If GTB are the victims and they have evidences to substantiate their claims why should they initiate an out of court settlement? That would not be in the bank's interest as that may suggest that the bank has something to hide too.

SuperS1Panther:
Pigidiotic Osus and Ojukwus want to win court case online instead of facing the real court.

Shameless debtor looking for ways to rob our bank tactically.

God forbid.

Our Bank?... How much do you have in GTB?, how much does your agbero father have in any Bank in Nigeria?. Stop hiding behind tribal lines to try and give your miserable low background some face lift. Go and check the people with the highest deposit in GTB, then you will know better than wasting your productive time on nairaland forum. Go and hustle, and stop giving your retched life some fake hope.

e7ejinima:
This is a biased analysis.

The cheap hack made no attempt to disguise his bias and inclination.

teepain:
If GTB are the victims and they have evidences to substantiate their claims why should they initiate an out of court settlement? That would not be in the bank's interest as that may suggest that the bank has something to hide too.

If you had a reasonable idea on import finance transaction banking, you would see that GT Bank's allegations are ridiculous.

shamecurls:
I love GT Banks response yesterday. They labeled Innoson a "Debtor customer"

And in what measure has that helped in increasing your low background?...

maestroferddi:
With due respect, I don't think the management of GT Bank are acting smart on this lingering issue.

Why not pursue an out of court resolution?

You're wise o

AguyiD3rd:
Our Bank?... How much do you have in GTB?, how much does your agbero father have in any Bank in Nigeria?. Stop hiding behind tribal lines to try and give your miserable low background some face lift. Go and check the people with the highest deposit in GTB, then you will know better than wasting your productive time on nairaland forum. Go and hustle, and stop giving your retched life some fake hope.

Chai

GavelSlam:
Innosons team are a bunch of liars.

Innson had won Gtbank in the same court so nothing to worry.

maximunimpact:
The long running case between Guaranty Trust Bank and Innoson finally had its day in the Supreme Court, and although there have been some wild tales on what transpired, here is the factual story of how it went down.

Even before the doors of the Supreme Court had shut for the day, what was meant to be a simple directive by the Apex Court on the case between Guaranty Trust Bank and Innoson had been turned on its head, with false versions of the Court’s directives spread online and across social media.

It began with the claim, contained in Press Release circulated by Innoson, that the Supreme Court had ordered “GTB to Pay Innoson’s N14Billion Judgment Debt into an Interest Yielding Account.” The records of the Apex court show no such thing, instead it asked both parties to return to the Court of Appeal, Enugu Judicial Division, for a hearing on GTB’s appeal scheduled for the 14th of June, 2018.

GTB has also released a statement on the actual events of the day at the Supreme Court. “The attention of GTBank has been drawn to false, mischievous and malicious statements circulating in the news and social media in respect of a purported directive by the Supreme Court of Nigeria to the Bank to make payments to one of its debtor Customers,” the Bank said in an official statement. “There was no directive or Order issued by the Supreme Court of Nigeria to the Bank to make any payment to any of its debtor Customers. We again reiterate that there is no iota of truth in the falsehood being peddled by desperate and mischievous elements and the General Public should disregard same in its entirety,” the Bank added.

In fact, the Supreme Court simply directed GTB and Innoson to return to the Court of Appeal for a hearing of the Bank’s substantive appeal on the matter. It is actually in the tradition of the apex court to issue definitive rulings only on Fridays, and what it delivered today was more or less a directive. However, court feelers say this is actually a win for GTB as it grants what the Bank has always wanted—and what Innoson has consistently stalled, which is for the Court of Appeal in Enugu to hear the Bank’s appeal.

The Bank’s appeal of a 2013 High Court judgment gotten by Innoson had stalled at the Court of Appeal for the past two years due to the pending motions filed by both parties at the Supreme Court. On Thursday, 7th of June, 2018 the Apex Court finally sat on the matter and asked both parties to withdraw their motions and return to the Court of Appeal, because GTB’s appeal at the lower court had not been heard.

“The implication [of the Supreme Court Directive] is that both parties are going back to the court of appeal for the Bank’s substantive appeal to be heard,” a source in one of the legal teams of the parties said. “The court said it won’t hear any applications and asked all parties to withdraw their applications.” One of the applications that was withdrawn and struck out by the Supreme Court is the plea filed by Innoson on 27th of February, 2015 askingfor the court to order GTB to issue a money guarantee to the court. This is interesting because it means that, rather than rule for the Bank to pay Innoson 14bn as the latter had claimed, the apex court struck out that particular request.

Back to the Appeal Court

Following the directive by the Supreme Court, the substantive appeal filed by GTB will now be heard at the Court of Appeal, Enugu Judicial Division, on the 14th of June, 2018.This appeal has been repeatedly delayed by the Innoson camp using moves such as itsmotion filed by on October 3, 2017to prevent the appeal from being heard. Back then, the Court of Appeal had expressed surprise that Innoson (the Judgment Creditor) is not desirous of allowing the appeal to proceed.

Again, in the proceedings of 24th October 2017 in CA/E/275/2015 between same parties, the same Prof. Mbadugha appearing for Innoson and other Respondents had scuttled proceedings when he refused to proceed with Appeal even though it was clear that the Appeal was ripe for hearing and opted to pay costs. Prof Mbadugha said to the courts: “I ask for an adjournment even though all motions have been taken… I offer N50,000.00. The Appeal Court responded; “This application for adj. has no basis, but in the interest of justice it is hereby granted. The appeal is ripe for hearing. Cost of N100,000.00 to the Appellant against the Respondents. Appeal adjourned to 17/4/18 for hearing.”

However, following today’s hearing at the Supreme Court, it seems all hurdles have been cleared for GTB’s substantive appeal to be heard by the Court of Appeal.

Festus Igbinosa is a financial analyst and he writes from Abuja

https://www.financialwatchngr.com/2018/06/08/gtbank-and-innosons-day-at-the-supreme-court-how-it-went-down/

You're an agent of Gtbank so we won't consider your poor analysis.

LastSurvivor11:
Either way, GTB is loosing it's credibility for not resolving the issue up til now..

Anyone who wants to buy innoson vehicle will not hesitate because he's having issues with GTB but banking customers will think twice before dealing with GTB..
My opinion

pfffft.



I may be wrong though. But so far from the few places I've been in Nigeria GTB is still the busiest bank with most customers

LastSurvivor11:
Either way, GTB is loosing it's credibility for not resolving the issue up til now..

Anyone who wants to buy innoson vehicle will not hesitate because he's having issues with GTB but banking customers will think twice before dealing with GTB..
My opinion

In this regard, all Nigerian banks are the same; killers of businesses! You only heard of this case because Innocent is a 'big man' and some fellows turned it into a tribal matter.

ugbo amaka!
no hard feeling though,but why turned 14th to 14B nau .
i knwe it was sheer propaganda when i read it here on nl
yesterday!but decided to wait for more accurate info and here we are
all these lies diaris God ooooo

[quote author=maestroferddi post=68290386]With due respect, I don't think the management of GT Bank are acting smart on this lingering issue.

Why not pursue an out of court resolution?
With due respect,do you think you are smarter than the whole of GTB legal dept? Why pursue an out of court settlement when you're sure you will win the case?

maestroferddi:
If you had a reasonable idea on import finance transaction banking, you would see that GT Bank's allegations are ridiculous.

It is ridiculous for you to insinuate that your expertise in import finance is far ahead of several finance experts in GTB besides the legal minds that are handling GTB's brief.

If you care to know, finance is one of my areas of expertise and I do not see what is ridiculous in GTB's allegations if they can substantiate them.

What actually are they fighting for

CanineOfJackal:
Two brands fighting themselves because of their interest while Idiots here without any stock in GTB or driving or even a shareholder in IVM will come here to diss their tribes.


Bunch of Igbo and Yoruba idiots

Atleast some of them have Cows

CanineOfJackal:
Two brands fighting themselves because of their interest while Idiots here without any stock in GTB or driving or even a shareholder in IVM will come here to diss their tribes.


Bunch of Igbo and Yoruba idiots

substitute idiots for dumbazzez...

cosigned

Artzdanielsz:
so gtb have sent you here abi ,make we wait for innoson people with their own interpretation

it's all over the news check TVC news line

Haba!

It's a normal something na...

GTB trying to make an appeal has to pay the judgement sum into an interest-yielding account in the name of The Registrar of the High Court before their appeal can be heard. I don't understand why they had to go to the media to counter what Innoson Group had said which was exactly as I stated above.

When you lose a civil suit such as this, it's expected that you comply first before you make an appeal which is to pay the judgement sum. GTB must have filed a "Stay of Execution" on the High Court's judgement citing that they wanted to make an appeal. In cases such as this, your "Leave to Appeal" will be granted as long as you have paid the Judgement sum into an interest-yielding account in the name of The Registrar of the High Court.

Let's see how it goes though.

In the meantime, beware of banks. They can run you mad in order to finance their inflated staff payroll and expansion plans. Thread wisely with them at all times.

maximunimpact:
The long running case between Guaranty Trust Bank and Innoson finally had its day in the Supreme Court, and although there have been some wild tales on what transpired, here is the factual story of how it went down.

Even before the doors of the Supreme Court had shut for the day, what was meant to be a simple directive by the Apex Court on the case between Guaranty Trust Bank and Innoson had been turned on its head, with false versions of the Court’s directives spread online and across social media.

It began with the claim, contained in Press Release circulated by Innoson, that the Supreme Court had ordered “GTB to Pay Innoson’s N14Billion Judgment Debt into an Interest Yielding Account.” The records of the Apex court show no such thing, instead it asked both parties to return to the Court of Appeal, Enugu Judicial Division, for a hearing on GTB’s appeal scheduled for the 14th of June, 2018.

GTB has also released a statement on the actual events of the day at the Supreme Court. “The attention of GTBank has been drawn to false, mischievous and malicious statements circulating in the news and social media in respect of a purported directive by the Supreme Court of Nigeria to the Bank to make payments to one of its debtor Customers,” the Bank said in an official statement. “There was no directive or Order issued by the Supreme Court of Nigeria to the Bank to make any payment to any of its debtor Customers. We again reiterate that there is no iota of truth in the falsehood being peddled by desperate and mischievous elements and the General Public should disregard same in its entirety,” the Bank added.

In fact, the Supreme Court simply directed GTB and Innoson to return to the Court of Appeal for a hearing of the Bank’s substantive appeal on the matter. It is actually in the tradition of the apex court to issue definitive rulings only on Fridays, and what it delivered today was more or less a directive. However, court feelers say this is actually a win for GTB as it grants what the Bank has always wanted—and what Innoson has consistently stalled, which is for the Court of Appeal in Enugu to hear the Bank’s appeal.

The Bank’s appeal of a 2013 High Court judgment gotten by Innoson had stalled at the Court of Appeal for the past two years due to the pending motions filed by both parties at the Supreme Court. On Thursday, 7th of June, 2018 the Apex Court finally sat on the matter and asked both parties to withdraw their motions and return to the Court of Appeal, because GTB’s appeal at the lower court had not been heard.

“The implication [of the Supreme Court Directive] is that both parties are going back to the court of appeal for the Bank’s substantive appeal to be heard,” a source in one of the legal teams of the parties said. “The court said it won’t hear any applications and asked all parties to withdraw their applications.” One of the applications that was withdrawn and struck out by the Supreme Court is the plea filed by Innoson on 27th of February, 2015 askingfor the court to order GTB to issue a money guarantee to the court. This is interesting because it means that, rather than rule for the Bank to pay Innoson 14bn as the latter had claimed, the apex court struck out that particular request.

Back to the Appeal Court

Following the directive by the Supreme Court, the substantive appeal filed by GTB will now be heard at the Court of Appeal, Enugu Judicial Division, on the 14th of June, 2018.This appeal has been repeatedly delayed by the Innoson camp using moves such as itsmotion filed by on October 3, 2017to prevent the appeal from being heard. Back then, the Court of Appeal had expressed surprise that Innoson (the Judgment Creditor) is not desirous of allowing the appeal to proceed.

Again, in the proceedings of 24th October 2017 in CA/E/275/2015 between same parties, the same Prof. Mbadugha appearing for Innoson and other Respondents had scuttled proceedings when he refused to proceed with Appeal even though it was clear that the Appeal was ripe for hearing and opted to pay costs. Prof Mbadugha said to the courts: “I ask for an adjournment even though all motions have been taken… I offer N50,000.00. The Appeal Court responded; “This application for adj. has no basis, but in the interest of justice it is hereby granted. The appeal is ripe for hearing. Cost of N100,000.00 to the Appellant against the Respondents. Appeal adjourned to 17/4/18 for hearing.”

However, following today’s hearing at the Supreme Court, it seems all hurdles have been cleared for GTB’s substantive appeal to be heard by the Court of Appeal.

Festus Igbinosa is a financial analyst and he writes from Abuja

https://www.financialwatchngr.com/2018/06/08/gtbank-and-innosons-day-at-the-supreme-court-how-it-went-down/

GTB stole his money and admitted doing such and now the bone of contention is in paying him back his money with the accrued interest in which GTB objected to and resorting in blackmails and evil manipulations

ruffDiamond:
ugbo amaka! no hard feeling though,but why turned 14th to 14B nau . i knwe it was sheer propaganda when i read it here on nl yesterday!but decided to wait for more accurate info and here we are all these lies diaris God ooooo

Go to TVC news and get the facts... it's there on the news line.. s

maximunimpact:
.... One of the applications that was withdrawn and struck out by the Supreme Court is the plea filed by Innoson on 27th of February, 2015 askingfor the court to order GTB to issue a money guarantee to the court. This is interesting because it means that, rather than rule for the Bank to pay Innoson 14bn as the latter had claimed, the apex court struck out that particular request....

For the benefit of those who cannot comprehend, it simply means GTB was never asked to deposit any money.

The Innoson team lied in desperation.

AguyiD3rd:
Our Bank?... How much do you have in GTB?, how much does your agbero father have in any Bank in Nigeria?. Stop hiding behind tribal lines to try and give your miserable low background some face lift. Go and check the people with the highest deposit in GTB, then you will know better than wasting your productive time on nairaland forum. Go and hustle, and stop giving your retched life some fake hope.

Someone should rescue this pained pigidiotic osu from his high blood pressure.

You will just die for nothing. Meanwhile see how we are reacting to your kneel jerk reaction.

For case they think they will win? Anyway, GTB and Innoson business i no get shares for any of them.

maestroferddi:
With due respect, I don't think the management of GT Bank are acting smart on this lingering issue.

Why not pursue an out of court resolution?

maestroferddi:
With due respect, I don't think the management of GT Bank are acting smart on this lingering issue.

Why not pursue an out of court resolution?

This is the best part to follow, IMO.

LastSurvivor11:
Either way, GTB is loosing it's credibility for not resolving the issue up til now..

Anyone who wants to buy innoson vehicle will not hesitate because he's having issues with GTB but banking customers will think twice before dealing with GTB..
My opinion

You're right. GTB has more at stake in this matter. There are some businesses with image fragility; and one of them is banking. Once customers begin to have double feelings about you, it might be the beginning of your end.

I think this issue is best solved outside court has someone has already averred here.

e7ejinima:
What the writer carefully avoided was the mess GTB is in - the directive of the Supreme Court to pay N14b into an interest yielding account in care of the courts registrar

dont mind him, I noticed that too

the truth is that
They both aren't saying the truth....

The simple fact is that a ruling was however given that gtb pays the amount owed innoson to an account in the courts name and not to innoson..however, its a small victory for innoson as it would become easier to get his money should gtb's appeal fail

smithsammy:
This is the best part to follow, IMO.

for a case the GTB legal team think they will win? Why can't Innoson settle for an out of court deal too?

iamjavadem:
For case they think they will win? Anyway, GTB and Innoson business i no get shares for any of them.

They are not thinking nada...

They are relying on the machinery of state like EFCC to arm-twost/brower/cow Innoson into submission.

How come they are yet to win a single case in the matter despite their war chest?