Comment on Anxiety over possible clampdown on GTB’s headquarters by Innoson Motors by Kabiyeze

The GTB by their Public Announcement only succeeded in confirming that Innoson has the Supreme Court Order to use the proceeds of realisation from their assets to offset their indebtedness but only appealing to Innoson to apply wisdom wisdom of law. They seem to acknowledge that they do not have the liquidity and solvency to settle their debt after failing in court to show cause why the Garnishee Order Nisi should not be made absolute. Innosson should have known that GTB does not have a adequate and easily realisable assets in Onitsha, Nnewi, Awka and Enugu. They should have saved themselves some stress if they had gone to their head office, Lagos, Ibadan, and Abuja where their properties might offset their indebtedness at forced sales value. The GT public notice might be sending a signal that could cause apprehension, and inconvenience for bank customers.

Source: news

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