An infrastructural telecommunication provider company, Alan Dick (West Africa) whose insolvency and liquidation was alleged to have been as a result of MTN Communications Limited indebtedness to it has slammed a N13 billion suit on the MTN communication.
According to a suit filed before Justice Tsho of a Federal High Court in Lagos by a Senior Advocate of Nigeria, Dr. S.P.A. Ajibade, it was alleged that in the course of the duties of the liquidators of Alan Dick company, the liquidators discovered that MTN indebtedness to the company was in the sum of N1,263,327,966.54.
Consequently, the liquidators notified MTN company by a letter requesting how the debt could be liquidated.
In its response, the defendant in one of their meetings, MTN admitted owing the plaintiff the sum of N1,259,489,524 but deducted N153,401,931.71 from the admitted sum purporting it to be the sum total of debt owed it by Alan Dick company in the course of rendering services prior to its liquidation, therefore leaving an admitted balance, of the sum of N106,087,592.95 as due and owed the plaintiff.
The plaintiff then contended that the defendant’s claim is spurious and an after thought designed to eclipse its admitted indebtedness to it.
However, the plaintiff alleged further that since the discovery of the debt the defendant has refused to liquidate the debt.
Allan Dick company was alleged to have obtained N3,392,440,172 credit facilities towards the execution of job order obtained from MTN communication company.
Allan Dick company also alleged that the MTN communication indebtedness to it was the main cause of its insolvency and liquidation as some of the debts due to it from MTN were due and owed as far back as 2007. The loan facilities obtained from banks continue to accumulate huge interest running into hundreds of million of naira.
The plaintiff also contended that pecuniary problems occasioned by the defendant’s indebtedness deteriorated to such abysmal point that it was no longer able to pay its loan, meet its tax obligations as well as pay its subcontractors involved in the execution of the defendant projects.
The plaintiff is owing nine companies about N9.9 billion.
In view of this debt burden the plaintiff’s claim against the defendants are as follows:
The sum of N1,106,087,592.95 being the debt admitted by the plaintiff; the sum of N153,401,931.71 being deduction made by the defendant but admitted.
The sum of N9,959,201,495 being loss and damages suffered as a result of the defendant’s failure to honour its obligation.
Also, N2.5 billion is being demanded as general liquidation plus 15% interest since liquidation.

http://www.geria.net/2010/06/07/n13b-suit-slammed-on-mtn/

Alan manliness ko, Alan womanliness ni. una wan kollect #13 billion. una de mad. una ni even talk 13 million.

MTN admitted owing the plaintiff the sum of N1,259,489,524

N1.3b debt. WTF. They probably started sending those disgraceful text to subsribers in other to raise some money to pay their debt since they were in formed of intentions to take them to court. This one's gonna be a hard one for MTN

heard their name meant 'Mobile Thieves Network'

donspony:

heard their name meant 'Mobile Thieves Network'

Hmm,semid4lyfe,your coinage has traveled far and wide

fleece em!

Alan Maniless,very funny

More 2 come dia way IJN.

Dey av stolen enuf from us so let
them also reap d fruit of dia labour

SHALOM

Talking about a ''PRIVATE PART'' business

the moment those mobile thieves decided to move their shop to ghana,

dey dont deserve any pity!!!!!

M-Monsters
T-Thriving on
N-Nigerians,

Bah, eff the coinage, MTN are vicious scoundrels, but then again, so is every major coperation in the world. Screw 'em, real hard Allan!

Alan Díck = Alan manliness

You gotta love seun's chinko software!

13 billion 2 small nah.charge more.dose thieves.yesterday, one of dem send me msg sai ma 10 points fit win 2 million naira.something wey ma mama don dey play since and she get 10000 points and she neva win, na me wey get 10 points go come win.God go punish their mama.THIEVES, THIEVES, THIEVESSSSSSSSSSSSSS

We should watch what we pray to happen to others, I don't like MTN but I will rather see a stronger MTN and a dead one; who knows I may even have cousins, friends or friends of friends working there, and I don't want them to be out of job no matter what; I know not many will understand me, what if you are the one working with MTN and you think it will be ok if they go down

oga are u saying dat becos u may have friends or family members working with dem dey have d rite 2 milk us, no scratch dat, milk u dry?

thats why they want to run to ghana

violent:

Alan Díck = Alan manliness

You gotta love seun's chinko software!

That tells you that people dont click source links on nairaland.

@violent;
it is not chinko software, its called smut filter. Its incorporated in every smf board and any serious web designer can code it.

MTN are full of hoax

novaman:

We should watch what we pray to happen to others, I don't like MTN but I will rather see a stronger MTN and a dead one; who knows I may even have cousins, friends or friends of friends working there, and I don't want them to be out of job no matter what; I know not many will understand me, what if you are the one working with MTN and you think it will be ok if they go down

The same MTN ran Alan Dicke under, so they either get their acts together or get out!

All of you guys are abusing MTN, if i check you still carry their lines.

Migrate to Etisalat and your abuses will be justified.

i want laff die, Alanmanliness!!!!, nairaland should do something about their filter.
i used to work for Al@nd1ck and i can say that the expatriates there ran al@nd1ck down. Employing dumb people just because they are white.
MTN owes them a lot of money but that is not the primary reason they went down.

@Puskin
sue them for 'vanish as you recharge' billing.

This is one of challenging aspect of business.

To any lenght, i support the sueing and verdict against Mtn. Mtn is practising slavery despite Nigeria's civilization.

mtn is makin a lot from us and dey need to be tot a lesson

Huramabi:



http://www.geria.net/2010/06/07/n13b-suit-slammed-on-mtn/

The numbers don't add up.

oboy see TORY OOOOO