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Breaking: Innoson: High Court reaffirms judgement against GTbank

This order was concurrently affirmed by the Court of Appeal in the judgement of 6th February 2014 and by the Supreme Court in its judgement of 27th February 2019.

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A Federal High Court sitting in Awka, Anambra state and presided over by Justice I.B. Gafai has refused to grant GTBank’s prayers for orders staying or suspending the execution of a court judgement embarked upon by Innoson Nigeria Limited against the bank.

The GTBank had approached the  court to set aside the orders made by the court on 27th March 2019 granting Innoson Nigeria Ltd leave to enforce the judgement, issue processes for enforcing the judgment and levying execution of the Writ of Fifa against the bank.

It would be recalled that the Federal High Court, Awka Division on March 27, 2019 granted leave to Innoson Nigeria Ltd to enforce and execute the judgement and Garnishee Order Absolute made by the court at the Ibadan Judicial Division on the 18th of May 2010 and the 29th of July 2011 respectively.

This order was concurrently affirmed by the Court of Appeal in the judgement of 6th February 2014 and by the Supreme Court in its judgement of 27th February 2019.

As Innoson Nigeria Ltd commenced the process of the execution, Daily Trust reports that the GTBank went to the court with its motion on notice seeking orders to stay or suspend the execution embarked by Innoson Nigeria Ltd.

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Similarly, the bank was also seeking orders setting aside the exparte orders made by the court granting Innoson leave to enforce the judgement and to issue the processes of executing same.

The court also held that the order it made on March 27th, 2019 in favour of Innoson Nigeria Ltd granting it leave to enforce the judgement and issue processes of execution of the judgment were still valid.

The court further held that all the steps taken to levy executions in pursuance of that order are still valid and are not vacated, while all the prayers by GTBank in its motion of 1st April 2019 were not granted.

However, the court stayed further proceedings relating to contempt against GTBank’s MD, Segun Agbaje; Chairman, Mrs Osaretin Demuren and Secretary, Mr Erhi Obebeduo; to enable the Supreme Court hear GTBank’s newly filed motion at the Supreme Court in respect of the matter.

Subsequently, the matter has been adjourned to 17th October 2019 for hearing of the pending applications of the contempt.

It would be recalled that through a motion on notice dated April 24th 2019, Innoson Nigeria Ltd had asked the court to commit GTBank and its MD, Segun Agbaje; Chairman, Mrs Osaretin Demuren and Secretary, Mr Erhi Obebeduo; for contempt of court for its acts of thuggery, extreme hooliganism and outright lawlessness in breaking into all the properties of GTBank which have been distressed and seized by the Court bailiffs/sheriffs while executing a writ of fifa issued by the Court, undistressed them and as well released them from attachments and seizures.

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