Innoson slams N30bn suit on GTBank


Nigeria’s first indigenous automobile manufacturer, Innoson Motors Nigeria Limited, has slammed a N30 billion suit against Guarantee Trust Bank, GTB, as a result of damages the company suffered following an ex parte order of Mareva Injunction, which GTB applied and obtained, freezing Innoson’s accounts in all the banks in Nigeria.
However, on June 10, Justice Saliu Saidu of the Federal High Court, Lagos, in a considered ruling set aside the ex parte order of September 1, 2014 and the writ of summons as well. The running legal battle between Innoson and GTB started when Innoson challenged the action of Nigerian Customs …Read More

Source:: New Mail