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Nairaland Forum / Nairaland / General / Business / John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover (24147 Views)
Banks, Businesses Comply With CBN Directive On Old Notes — But Shortage Persists / Why the Supreme Court Ruling Between Innoson And GTB should worry you / Supreme Court Orders Gtbank To Pay Innoson Boss N12bn In 14 Days (2) (3) (4)
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Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by ubev01(m): 2:19pm On Dec 03, 2021 |
Terrier99:so onecan borrow money from the bank, change his name and become legally free? Wise literate 3 Likes |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Nobody: 2:19pm On Dec 03, 2021 |
fregeneh: IIf 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. |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Themandator: 2:20pm On Dec 03, 2021 |
perambulator: Supreme Court has ruled in Innoson v GTB Case. Gtb was only been clever by half trying to bring up cases without merit |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by geraob1: 2:21pm On Dec 03, 2021 |
Megatrix: Chai Technical Knock-out |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by slimghost(m): 2:22pm On Dec 03, 2021 |
FarahAideed: This is a different case. GTB didn’t go out of existence, it is now just part of a holding company. The nomenclature or structure doesn’t invalidate a court order that effects GTB. Just like they are still liable for all assets and liabilities in their book. 2 Likes |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Nobody: 2:24pm On Dec 03, 2021 |
Ucheamani: Thats because they believe they wont lose the cases. Like I said, worst case scenario it comes out of dividends. Let me give you some advice: I know most of your audience on Nairaland are idiots and ignoramuses but if you are not knowledgeable on a matter dont comment or try to sound knowledgeable else you end up looking a fool. I did not say anything about GT bank Uk. I said GTBank plc (the Nigerian company) is listed on the London Stock exchange. whether they have a subsidiary in the Uk is neither here nor there and wasnt the subject of my post. |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by adelaja70(m): 2:25pm On Dec 03, 2021 |
ShoeShineGuy:What is the name of the Bank you are working with? DINDINRIN! |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Nobody: 2:26pm On Dec 03, 2021 |
Themandator: whatever you say. I am not here to debate the merits of the case. I dont know and I do not care. What I know is that the amount in question is relatively insignificant relative to the to the annual profits of GTb and particularly their market cap that there is ZERO possibility of Innoson ever owning or even becoming a majority shareholder of GTb as a result of this case. out of the billions of brain cells in the human brain, you only need to engage 1 or 2 to figure that out. 1 Like |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by FarahAideed: 2:33pm On Dec 03, 2021 |
Themandator: GTB has been diluted and is now just a small component of GTCO holding ...Oando has don this twice to escape liabilities and it worked ..all they will do is handover Innoson empty shares in GTB that hold no mandate in GTCO ... |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Ayemileto(m): 2:33pm On Dec 03, 2021 |
Terrier99: AMCON don't buy liabilities alone, they take over all assets as well as the liabilities. ![]() |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by lawflec(m): 2:49pm On Dec 03, 2021 |
I don't think that GT is one of the systemically important bank that's why CBN has not waded in. If this was happening to a bank like first or access, it would have been resolved even if it requires CBN to pay the amount Nothingserious: |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Ayemileto(m): 2:49pm On Dec 03, 2021 |
perambulator: Supreme court already ruled on the case since 2019. And the money is still increasing by 22% interest. so, the longer GTB delays payment, the higher their liability. The money can very well reach 100Bn, 500bn, 1tn or more if GTB delays payment long enough. And depending on how long GTB delays payment (and Innoson waits out), The money can very much surpass GTB's capacity. Also, he doesn't have to own 100% shares to be considered the owner. Once he's the highest shareholder (which this news implies he'll be if he got ₦33bn worth of shares), he will be referred to as owner. Jeff Bezos for example, own just 11% of Amazon shares. But he's referred to as "Amazon owner" because he's the largest shareholder. |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Ayemileto(m): 2:54pm On Dec 03, 2021 |
fregeneh: It has been judged by the supreme court since 2019. |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by bencr7: 2:58pm On Dec 03, 2021 |
SlyDev:wat are u saying self tribalist |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Ayemileto(m): 3:02pm On Dec 03, 2021 |
perambulator: The case had been decided by the supreme court since 2019. Even the Fraud case, which GTB filed against him in conjunction with EFCC has gone off radar since that 2019 too. But I think the reason why Innoson hasn't fought for the Judgement debt is, the longer Innoson waits, the more the money he'll potentially get because the judgement debt keep increasing with 22% interest. That's why the possibility of him taking over GTB exist. If GTB delays long enough, the debt can/will surpass their capacity, and he can go to court at that point to implement the judgement debt. |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Nobody: 3:04pm On Dec 03, 2021 |
Ayemileto: The best way to reply you is to ask that you take a compounding calculator and calculate N33b at 22% interest and then take a look at GTB's profit history since inception and take their profit last year of 233b and compound it at 5% and tell me if after engaging your brain with the help of a calculator you see what i see? Which is that with every passing year, although innosons debt is increasing by 22% the proportion of that debt on GTB's annual profit will be getting less and less. 5% increase in GTb profit in 1 year alone is N11B!!! When you argue emotionally and not with facts and figures you end up makng a fool of yourself. By the way no one refers to Jeff Bezos as Amazon owner. he is refereed to as "Amazon founder" Even Steve jobs only ever owned about 1% of apple and he was kicked out. If where you come from someone who owns 3% with no seat on the board and no power to make decisions is an owner then whatever floats your boat. But like I said he will never even get his hands on any GTB shares because worst case scenario they pay it from roughly 13% of 1 year's profits. 2 Likes |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Debodimeji01(m): 3:06pm On Dec 03, 2021 |
Sounds funny though but makes sense if they Had bought BTC when it was as in the range of $30k +. By now... na them for fey cut Innoson warning sef. But bank will never do that. They go dey form calculated risk and stay on the defensive. Imagine buying BTC worth 10b early this year... them for d9n double that money pay Innoson over 2/3 of him money by now. But no! Greed and their useless policies will not allow them see road ForeThinker: |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Nobody: 3:07pm On Dec 03, 2021 |
Ayemileto: you people are so financially illiterate it's unreal. I am feeling my IQ shrink just by replying. A real business man knows 2019 naira even at 22% interest is worth less in 2021 than it was in 2019 so if he could take the money or the interest, he would take the money in 2019. if you think I am lying, take take the 33b in 2019 and convert it to dollars at 2019 rate. now take the money and compound it annually at 22% and convert to dollars at 2021 rate...which is more? |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by izzy4shizzy(m): 3:10pm On Dec 03, 2021 |
kenzysmith: Lmao, this is funny 1 Like |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by izzy4shizzy(m): 3:12pm On Dec 03, 2021 |
Terrier99: Ok sir, Its still my hard earned 10kobo that neither you or the bank has ever given to me. And just so you know, I don't bank with them for free and asuch I demand excellent services. Try not to take out your frustrations at me alright! |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Ayemileto(m): 3:25pm On Dec 03, 2021 |
perambulator:What gave you the assurance that the bank will keep making profit at all, not to talk of 5% increment from past years own? Also, if we are to agree your 5% increment is feasible year in year out, then the debt will actually be increasing over 4x faster than GTB's profit is increasing, so the percentage of debt to GTB's profit will actually be getting larger. Another thing you're failing to note is that GTB is also owing other creditors hundreds of billions of Naira. Lol. I'm not arguing emotionally. Rather you're the one doing that. Even twisting facts on multiple occasions. I even doubt you know anything about the case and it's history, because up there, I can see you saying the case is still in court, while it already ended since 2 years ago.
People refer to Jess Bezos as Amazon owner, just the way they refer to Elon Musk as Tesla's owner. 2 Likes |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Ayemileto(m): 3:39pm On Dec 03, 2021 |
perambulator: Well, he did wanted to take the money in 2019, sealing some GTB's branch in his state before Corona happened. I also once read about his offer to GTB for negotiation, offering to take shares instead. Also, the bank's value is affected too, since the bank is valued in Naira on the NSE, so it kinds of balances out. Like I said earlier, the possibility of him taking over a major share of GTB very much exist, as far as GTB keeps delaying payment/negotiation with him, while letting the money skyrocket. 2 Likes |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Hkff: 4:37pm On Dec 03, 2021 |
Why |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Nobody: 5:11pm On Dec 03, 2021 |
3 |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by okpanachil: 5:36pm On Dec 03, 2021 |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Amumaigwe: 5:39pm On Dec 03, 2021 |
West1side: Just like GTB abi GTCO has perished. |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by Temysteve(m): 5:48pm On Dec 03, 2021 |
FalseProphet1:wake up from your slumber and wash your face man. 1 Like |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by InyinyaAgbaOku(m): 6:04pm On Dec 03, 2021 |
Terrier99: The same crime they couldn't prove in court. The same allegations innoson won them over ? |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by InyinyaAgbaOku(m): 6:05pm On Dec 03, 2021 |
perambulator:It takes brains to know that instead of the case to be in court , gtb should pay . But since your brain is filled with relaxer, this is what we get |
Re: John Ekpa: GTB Should Comply With Court Judgement, Pay Innoson Or Risk Takeover by InyinyaAgbaOku(m): 6:07pm On Dec 03, 2021 |
Terrier99: It's the illiteracy in you that made you think ethnic groups and geopolitical zones are mutually exclusive. Elumelu and Ovia are Yoruba names , right ? |
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