Court Okays Innoson’s Execution Of Judgement Against GTB

The Federal High Court sitting in Awka has declined prayers by the Guarantee Trust Bank, for orders staying or suspending the execution embarked by Innoson Nigeria Ltd; and to further set aside the orders made by the court on 27th March 2019.

According to a statement signed by Innoson’s Head of Corporate Communications, Cornel Osigwe, GTB sought to vacate the order of the court, granting Innoson Nigeria Ltd leave to enforce the judgement, issue processes for enforcing the judgement and levying execution- the Writ of Fifa against Guaranty Trust Bank.

The Court had on March 27, granted leave to Innoson Nigeria Ltd to enforce and execute the judgement and Garnishee Order Absolute made by the court coram Shakarho, J 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 tedious act of the execution, GTB rushed to the court vide its desperate motion on notice seeking orders staying or suspending the execution embarked by Innoson Nigeria Ltd and 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 further 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 judgement are valid; and also that all the steps taken to levy executions in pursuance of that order are still valid and are not vacated; whilst all the prayers by GTB in its motion of 1st April 2019 are not granted.

However, the court stayed further proceedings- proceedings relating to contempt against GTB, its MD – Segun Agbaje, chairman- Mrs Osaretin Demuren and secretary – Mr Erhi Obebeduo- to enable the Supreme Court hear GTB’s newly filed motion at the Supreme Court in respect of the matter.

Subsequently, the matter was adjourned to 17th October 2019 for hearing of the pending applications – the contempt application.

It would be recalled that through a motion on notice dated April 24th 2019, Innoson Nigeria Ltd asked the court to commit GTB 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 GTB which have been distressed and seized by the Court bailiffs/sheriffs while executing a writ of fifa issued by the Court, un-distressed them and as well released them from attachments and seizures.