The Federal High Court sitting in Ikoyi, Lagos, under Justice Rilwan Aikawa has ordered the Guaranty Trust Bank Plc. to take over Hi-Nutrient International Limited allegedly owned by the former governor of Oyo state Rashidi Ladoja over unpaid loan.
Justice Aikawa during the Tuesday sitting ruled that the bank appoints someone as the company’s receiver/manager who will be in control of the firm until the final determination of a debt recovery suit filed by GTB against Hi-Nutrient International Limited.
Counsel to the bank one Temiloluwa Adamolekun had filled a suit before the federal high court in Ikoyi claiming Hi-Nutrient International Limited has refused to pay back N207,150,761.46 loan to finance the acquisition of factory equipment.
According to the deponent, the firm executed “a duly registered tripartite deed of legal mortgage of all parcel of land together with any building and appurtenances thereon situate at plot 25A, B and C, Marine Road, now known as 57, Oscar Ibru Way Soaps, Apapa Local Government Area of Lagos State.”
The deponent claimed that despite repeated demands, the firm failed to liquidate the N207,150,761.46 loan facility which, according to him, had continued to accrue interest.
However, Justice Aikawa granted an order, empowering the receiver/manager to take exclusive possession of the property and also restrained the firm and its agents from frustrating the receiver/manager in the exercise of his power.
