Innoson Motors Nig Ltd, Nigeria’s leading automobile manufacturing company has in a new suit asked a Federal High Court to restrain the Guarantee Trust Bank (GTB) from it’s planned deregistration as a public liability company.
Njenje Media News reports that Innoson Motors wants the payment of 32.8 billion naira judgment debt the the Nigerian Bank paid before any move to deregister it is carried out.
It would be recalled that Guarantee Trust Bank (GTB) had lost out in a suit against Innoson at the Federal High Court, Awka Division last year 27th March. This is sequel to a Court of Appeal Judgement February 6th 2014 enroute to a Supreme Court Ruling 27th February that affirmed the Appeal Court ruling which ordered the payment of N32.87bn by the Guarantee Trust Bank to Innoson Motors.
The automobile manufacturing company sees GTB deregistration plan as a desperate move to escape the payment of the N32.87bn and seek an order of perpetual injunction stopping the registration or re-registration of Guarantee Trust Bank as either a Holding or Financial Holding Company.
Njenje Media News reports that one of the five-point prayer of the company before the court is that Guarantee Trust Bank status should not be altered until it pays the debt it owes the company.
