Terrier99:


Assets have been sold to Gtco for kobos. Liabilities remain with Gtb, assets belong to Gtco.
Innoson's problem is illiteracy.

You are the illiterate one here.
If you buy a company, you buy the assets and liabilities.
That crap you wrote up there is the reason you should ask for the refund of your school fees

Terrier99:


Gtb has become Gtco. Assets have been sold to Gtco. Innoson can only take over Gtb and not Gtco.

As at today, Gtb has nothing and innoson is left looking foolish. Illiteracy is a big disease.

You're the one that is ignorant here. Change of name means nothing before the law. The court judgement is still binding on Gtbank or whatever name they change to. When you take over a company, you inherit all their assets and liabilities. The debt to innoson is a liability and any one who takes over GTbank assets also inherits that liability.

FalseProphet1:
I see innoson taking over gtbank, I see massive job loss cos most workers will be retrenched, I see them doing promo this December telling customers to deposit money and win an innoson car.

I see hungry Nigerians depositing every penny they have and starving themselves so that they can win the car and resell it in order to survive.

I see gtbank discontinuing the promo after people have done compulsory 7 days dry fasting to save money just to win their car.

I see people calling them out on social media.

I see innoson boss opening an airline company to rival air peace.

This I have seen.

Can you see 2023

perambulator:
The author of this article is clearly an ignoramus!

Even if Innoson acquires 33b worth of GTB shares ($75m at the official rate) and becomes the "largest shareholder" as he says, he will only own roughly 3.5% of GTB because the tottal value of shares in GTB (market cap) is $1.9Billion.

https://companiesmarketcap.com/guaranty-trust-bank/marketcap/


All these ethnic sentimentally charged quacks should stop writing nonsense. Innoson can NEVER own GTB!!!


There is a difference between being the largest shareholder and owning the company. even if he gets the debt converted into shares all he will own is approx 3.7% of GTB....read that again 3.7%!!!!! is that owning?


he wont even get a seat on the board for 3.5%. and he cant takeover the company


That said no court will award Innoson shares in GTB because of a debt that is 3.7% of their value or 16% of last year's profit, it's not as if GTB is insolvent, thats not the way it is done. GTB's profits before tax last year alone was N233B so the worst a court can do in the event innoson wins the case is to stop GTB from paying any dividends until they have paid Innoson.

GTB makes 7 times more profit every year than the debt even with the interest, This is not a one man cowboy operation like innoson motors, GTB is a public company listed on the London Stock exchange, by law, they are required and would have already made provisions in their accounts for known event risks such as this. Even if we dont follow laws here, the minute GT bank list on the LSE, selling shares in the UK, they are subject to the UK SEC laws and UK regulators would have made there there are funds set aside in case this well known case goes against them or they would have been struck off the LSE. so any talk of innoson taking over GTB is only the talk of Imbeciles.

way too many idiots commenting on things they know little about.

Gtb makes this and that, so what ships them from paying innoson ?

Megatrix:

You're the one that is ignorant here. Change of name means nothing before the law. The court judgement is still binding on Gtbank or whatever name they change to. When you take over a company, you inherit all their assets and liabilities. The debt to innoson is a liability and any one who takes over GTbank assets also inherits that liability.

Go and help Innoson collect his money from Gtco.

InyinyaAgbaOku:


You are the illiterate one here.
If you buy a company, you buy the assets and liabilities.
That crap you wrote up there is the reason you should ask for the refund of your school fees

Na so. Let Innoson try entering any Gtco branch and see if Mopol won't shatter his leg.
1 kobo, Innoson won't get.

Terrier99:


Go and help Innoson collect his money from Gtco.

He doesn't need my help, he is doing a fine job on it already. You on the other hand need a lot of help with your ignorance.

Terrier99:


You want to ruin Gtb the way you ruined Diamond Bank. Foolish Igbos.
Igbos don't repay loans. That is why Igbos don't own banks. You cheat and think you are smart. Now, Innoson has seen how stupid he is and you are both foolish.

1 kobo, innoson won't get. Ntoooor

Igbos don't own banks but own access, union, Fidelity, Zenith and head UBA?
MUMU.
And Yoruba banks that have failed over the years are owned by who ?

Terrier99:
[s][/s]

Go to Accces Bank, UBA or Others.

Obviously you're a pained member of staff who is allergic to the truth. I can see u & ur type all over this space attacking people whose comments are not favourable to GTBank. Funniest thing about your attack on my post is, I didn't even take sides with Innoson but yet, my post still manage give u runny stomach!

Pẹ̀lẹ́ o! Oya come delete this one too..

Terrier99:


You don't get.
They sold assets to Gtco as a separate legal entity. It is not a case of acquisition or merger.

Imagine doing a list of assets and sold everything for 1 billion Naira or even 100 million naira to Gtco. It is a valid transaction and nothing can change it. The price sold is immaterial as so far as it pleases both parties, it stands.
Innoson doesn't have sense and it is now showing.

He doesn't have sense for demanding for his money ?
And why is gtb not paying him ?

bencr7:
wat brought tribe in thiz, u one of d pple that always bring tribe in anything to start tribalism fight on Nairaland get Sense sometimes

Other Yoruba shy from it reason you get away with it, not anymore

adelaja70:

You are a big fat liar.. I have been banking with them for a long time... No issues at all.

Be deceiving yourself, your shadows and your ancestors there o Mr Pankẹrẹ Olootọ!

ShoeShineGuy:


Be deceiving yourself, your shadows and your ancestors there!

I should be telling you that.... Lies kee you there. Oponu!

bros nor be lie. as i dy type this so my account dy on minus. who does dat if nor for security reasons i for screenshot am show you. GTB bank mata dy tire person

stifej:
The same GT bank I'm using or another one? Small small with your lies abeg

adelaja70:

I should be telling you that.... Lies kee you there. Oponu!

Your past responses says so much about you. I can see you're nothing but one of those brainless Nairaland animals that do not deserve responses and I won't waste my time with you any longer..

delpee:
Take over GTBank because of judgement debt?

This level of ignorance get as e be.

How far with the forgery matter?

there is no forgery matter. That has been trashed,, its just gtbank grasping at straws

Ayemileto:


Is it possible for GTB to sell all its assets to GTCO without selling it's liabilities?

Very possible.

Is it possible for AMCON to buy liabilities like NPLs without buying assets?

Think about it

SlyDev:


Other Yoruba shy from it reason you get away with it, not anymore

God bless you Bro. Igbos have repeatedly said they will boycott Gtb because they refused to pay the criminal called Innoson.

West1side:
You n your entire household with no exception at all must perish if any of the allegations you made here is false.

And may yours with generations yet unborn carry this your curse irrevocably till eternity if indeed everything I said is true. AMEN!

InyinyaAgbaOku:


Gtb makes this and that, so what ships them from paying innoson ?

The case is still in court. In any event am I GTB? Wetin concern me? All I said is in the event GTB loses, Innoson can NEVER own GTB for the reasons outlined. You people should act like you have a few brain cells and stop posting like morons.

Terrier99:


God bless you Bro. Igbos have repeatedly said they will boycott Gtb because they refused to pay the criminal called Innoson.

We yoruba need to wake up

Which one is Delta? Is delta and SS an ethnic group??

Terrier99:


Zenith
Jim Ovia, Delta state

Uba
Elumelu Delta state

Access
Wigwe, ikwerre, Rivers state.

Fidelity
Tier 3 Bank. Igbo

The best bankers are SS people and Yorubas. The biggest MFB is owned by SS people. The MFB is even bigger than Fidelity bank.
Igbos are merely traders who can't excel in banking. It is a fact. See Diamond Bank for instance.

36STATES:
Which one is Delta? Is delta and SS an ethnic group??

No, it is a company.

InyinyaAgbaOku:


Gtb makes this and that, so what ships them from paying innoson ?

Gtb doesn't pay criminals

perambulator:

The case is still in court. In any event am I GTB? Wetin concern me? All I said is in the event GTB loses, Innoson can NEVER own GTB for the reasons outlined. You people should act like you have a few brain cells and stop posting like morons.

Innoson can NEVER takeover a single Gtb branch. Those supporting him are mere dumb noise makers.

mrvitalis:

Oga that's the person's problem ... innoson would get his 33bn nothing would stop it

Yes it's chicken change for him for it's to make a statement

Lol

Okay o

I will see how he is going to get his #33b

The most annoying part is, receiving money and being charged for it.

My favorite bank before but now they are very Useless.

complexBoss12:
very useless bank, with worse online transaction experience I have had. if you send money, they will charge you, if you receive money, they will charge you, if you don't do any transactions at all, they will charge.

perambulator:



The case is still in court. In any event am I GTB? Wetin concern me? All I said is in the event GTB loses, Innoson can NEVER own GTB for the reasons outlined. You people should act like you have a few brain cells and stop posting like morons.

The case still in court? I thought it has been done with by supreme court.

perambulator:
The author of this article is clearly an ignoramus!

Even if Innoson acquires 33b worth of GTB shares ($75m at the official rate) and becomes the "largest shareholder" as he says, he will only own roughly 3.5% of GTB because the tottal value of shares in GTB (market cap) is $1.9Billion.

https://companiesmarketcap.com/guaranty-trust-bank/marketcap/


All these ethnic sentimentally charged quacks should stop writing nonsense. Innoson can NEVER own GTB!!!


There is a difference between being the largest shareholder and owning the company. even if he gets the debt converted into shares all he will own is approx 3.7% of GTB....read that again 3.7%!!!!! is that owning?


he wont even get a seat on the board for 3.5%. and he cant takeover the company


That said no court will award Innoson shares in GTB because of a debt that is 3.7% of their value or 16% of last year's profit, it's not as if GTB is insolvent, thats not the way it is done. GTB's profits before tax last year alone was N233B so the worst a court can do in the event innoson wins the case is to stop GTB from paying any dividends until they have paid Innoson.

GTB makes 7 times more profit every year than the debt even with the interest, This is not a one man cowboy operation like innoson motors, GTB is a public company listed on the London Stock exchange, by law, they are required and would have already made provisions in their accounts for known event risks such as this. Even if we dont follow laws here, the minute GT bank list on the LSE, selling shares in the UK, they are subject to the UK SEC laws and UK regulators would have made there there are funds set aside in case this well known case goes against them or they would have been struck off the LSE. so any talk of innoson taking over GTB is only the talk of Imbeciles.

way too many idiots commenting on things they know little about.

Total claims in court against GTbank as at last financial year was in excess of 450bn. It would interest you to know that the provisions made by the bank in the event of losing all the cases is 190m.
In anycase, GTbank UK Ltd is a different entity with different board of directors. Gtco only owns a share like other shareholders in the UK bank. Being a limited liability company, the fortunes or liabilities of the Nigeria holding company will have little or no impact to the London business.
Pfizer which folded in Nigeria still operates in other markets

fregeneh:


The case still in court? I thought it has been done with by supreme court.

It didnt occur to you that if the case had been decided why hast he taken over GTB as he claimed?

Google is there to save you embarrassment before you post but if you choose to take your news from Nairaland and bloggers and swallow hook line and sinker, I cant help you. There are many cases in different courts on different matters involving GTB and Innoson, people are confusing one with the other and drawing conclusions and in some cases some are using it for propaganda.

FarahAideed:
GT has already changed it's name and holding structure in anticipation of cheating Innoson

This thing wey you write Na b you like a sensible thing?

Make I ask you...wetin be the reg number of gtb with the government of Nigeria..dem change am too?

Access sbnk wet dey for the same process of converting to an holding company who dem dey run from or VFD wet first dem do am to become a multipurpose investment firm rather than just a financial service outfit