N2.4bn debt: Supreme Court rules in favour of GTB over Innoson Motors

N2.4bn debt: Supreme Court rules in favour of GTB over Innoson Motors

Gtbank, Innoson Motors

1/16/2022 7:52:00 PM

N2.4bn debt: Supreme Court rules in favour of GTB over Innoson Motors

The Supreme Court has ruled in favour of Guaranty Trust Bank after it reversed its earlier decision which dismissed an appeal by GTB against a N2.4bn judgment given in favour of Innoson Motor

A senior official of GTB, who confirmed this toThe PUNCHon Sunday, said, “Yes, the Supreme court ruled in favour of GTbank on Friday.”A judgment delivered on Friday by a five-member panel, led by Justice Olukayode Ariwoola, held unanimously that the Supreme Court erred when, in a ruling on February 27, 2019, it erroneously dismissed the appeal marked: SC/694/2014 filed by GTB.

In the lead judgment, written by Justice Tijani Abubakar, but read on Friday by Justice Abdu Aboki, the court held that it was misled by its Registry, which failed to promptly bring to the notice of the panel that it sat on the case on February 27, 2019, and that GTB had already filed its appellant’s brief of argument.

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I think ds will put paid to Innoson's grand dream of taking over ownership of GTB. While I hope Innoson will not proceed to d World court to seek redress of ds supreme court ruling on d matter: GTB and Innoson shld come to d negotiating table and settle d issue once and for all Nonsense 😠😠 we're not surprised supreme court biko. Nigeria my supreme court decision NDI ALA NDI ALA

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