motors

Stallion Motors Shut Over Indebtedness To Banks, AMCON

December 13, 2019 10:03 am

Stallion Motors was shut thursday, following a court judgment, arising from the company’s indebtedness to some Nigerian banks and Asset Management Corporation of Nigeria (AMCON).

THISDAY gathered that the Stallion Group is heavily indebted to GTB, which dragged it to court.
The company, it was learnt, is also indebted to AMCON, Access Bank and UBA, among others.

According to a THISDAY authoritative source, the group owes the banks a hefty N330 billion, while AMCON’s exposure to it is N26 billion.

However, an official of the company, who did not want to be named, told THISDAY that the court order was …

Innoson Motors to seal GTB head office over ₦8.8b debt

March 30, 2019 10:03 pm

Innoson Motors said it would move to the headquarters of Guaranty Trust Bank in Lagos to effect the judgement of courts that awarded it an estimated N8.8billion.

The company’s spokesman Cornell Osigwe said this in an interview with Daily Trust on Saturday.

Already, Innoson’s agents had sealed seven branches of the bank in Awka and Enugu and plans to take further action by sealing the head office of the top flight bank.

“From next week, we shall move to GTB head office to enforce the judgement of courts. We will sell those properties to get our money back”, Osigwe said.…