The Nigeria’s first indigenous automobile manufacturer, Innoson Motors Nigeria Limited is requesting for N30 billion in damages in a suit against (GTB) Guarantee Trust Bank following an exparte order of Mareva Injunction obtained by the GTB, freezing Innoson’s accounts in all banks allover Nigeria.
We check to view the legal battle had started between Innoson and GTB when the company challenged the action of Nigerian Customs Service for auctioning its goods.
The court had ordered GTB to pay Innoson the sum of N2,048,737,443.67 from Customs account.
But the bank appealed the judgement, However, the Court of Appeal in Appeal no. CA/1/258/2011 affirmed the judgement of the Federal High Court and ordered GTB to pay the debt of N2,048,737,443.67 to Innoson Company.
The Guarante Trust Bank went further, taking its appeal to the Supreme Court.
In another suit, Innoson dragged GTB before an Awka High Court for imposing excess and unlawful charges on the company’s account with the bank amounting to N559 million.
The trial court gave a N4.7 billion judgment to favour Innoson.
GTB appealed the judgement before the Court of Appeal, Enugu Division, but the court also upheld the judgement and ordered GTB to pay Innoson as directed by the High Court.
The Trust Bank has also in this case, appealed to the Supreme Court.
However on June 10, Justice Saliu Saidu of Federal High Court in Lagos in a considered ruling set aside the Ex Parte order of September 1, 2014 and the write of summons as well.
No comments:
Post a Comment
Note: only a member of this blog may post a comment.