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Innoson heads to Supreme Court as Appeal Court rules GTB appeal can be heard

Chairman of Innoson Group, Chief Dr Innocent Chukwuma has reacted to Friday’s July 13th 2018 ruling of the Enugu Division of the Court of Appeal that Guaranty Trust Bank appeal can be heard and thereby neglecting the fact that the same Court had given a ruling on 9th December 2014 that GTBank cannot be heard in any appeal whatsoever until it complies with its ruling.

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Founder and chairman of Nigeria’s automobile company, Innoson Motors, Innocent Chukwuma.

The Court of Appeal Enugu Division had on 9th December 2014 ordered that GTBank cannot be heard in any appeal until   the appellant (GTB) pay the sum of Five Billion, Nine Hundred and thirty Six Million, One Hundred and Twenty Six Thousand, Two Hundred and Nineteen Naira, One Kobo (N5,936,126,219.01k) to the Deputy Chief Register of the Court within 14 days from the date of ruling and which the Deputy Chief Register shall pay same into an interest yielding account in a reputable bank other than Diamond Bank or Mainstreet Bank Plc pending the determination of this appeal.

Friday’s decision at the Court of Appeal follows a motion by Wole Olanipekun (SAN), Counsel to GTBank on 29th Jan 2015, seeking to amend its notice of appeal and which was opposed by Counsel to Innoson, Prof McCarthy Mbadugha on grounds that; GTB would not be heard until it complies with the court’s order of 9th December 2014 that it pays the judgment debt which now stands at over N14billion to the Deputy Chief Registrar of the Court which will pay same into an interest yielding account.

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