Court Okays Innoson To Execute Judgment Against GTB
Posted on May 22, 2019
The Federal High Court, Awka Division on May 20, 2019, refused to grant Guaranty Trust Bank, GTB’s prayers for orders staying or suspending the execution embarked by Innoson Nigeria Ltd; and to further set aside the Orders made by the court on March 27, 2019 granting Innoson Nigeria Ltd leave to enforce the judgment, issue processes for enforcing the judgment and levying execution- the Writ of Fifa against Guaranty Trust Bank.
Recall that the Federal High Court, Awka Division on March 27, 2019 granted leave to Innoson Nigeria Ltd to enforce and execute the judgment and Garnishee Order Absolute made by the court coram Shakarho, J at the Ibadan Judicial Division on May 18, 2010 and July 29, 2011 respectively.
This order was concurrently affirmed by the Court of Appeal in the judgment of 6th February 2014 and by the Supreme Court in its judgment of February 27, 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 judgment and to issue the processes of executing same.
The court further held that the order it made on March 27, 2019 in favor of Innoson Nigeria Ltd granting it leave to enforce the judgment and issue processes of execution of the judgment 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 April 1, 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 October 17, 2019 for hearing of the pending applications – the contempt application.
The court further held that the order it made on March 27, 2019 in favor of Innoson Nigeria Ltd granting it leave to enforce the judgment and issue processes of execution of the judgment 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 April 1, 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 October 17, 2019 for hearing of the pending applications – the contempt application.
It will be recalled that through a motion on notice dated April 24, 2019, Innoson Nigeria Ltd asked the court to commit GTB and its MD, Chairman and Secretary 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, undistressed them and as well released them from attachments and seizures.
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