See Supreme Court Judgement Between Innoson & GTBank [Doc]

Attached in this report is a copy of the Supreme Court judgement between Innoson Group and Guaranty Trust Bank, otherwise known as GTBank.

Highlights of the trial and judgment include:

• the enforcement of judgment against Guaranty Trust Bank
• Garnishee order absolute issued by the Federal High Court Ibadan in Suit No: FHC/L/CS/603/2006 ordered GTB to pay Innoson Nigeria Ltd the judgment sum of N2.4 billion with a 22% interest, per annum, on the judgment sum until the final liquidation of the judgment
• GTBank appealed the Federal High Court’s decision up to the Supreme Court and lost
• Case was between GTB and Innoson Nigeria Ltd and no other person
• Order of garnishee was made absolute since 29th July 2011 and GTB held unto the money from that time and is using for business
• Innoson Nigeria Ltd is the judgment creditor
• GTBank became judgment debtor in the case against whom execution of the order will issue
• The Garnishee order absolute was against GTBank and no one else and it is only GTBank and no one else that will comply with the order
• The order will be executed against GTB and no one else.

See the document below: