N13b Debt: GTBank Takes Over Stallion Nigeria’s Assets News
The Receiver/Manager appointed by the bank, Temilolu Adamolekun and court bailiffs, protected by policemen, took over the firm’s Victoria Island, Lagos office and showroom containing several exotic automobiles on Wednesday.
Some of the brands of vehicles seized from the premises of the company included Porsche, Audi, Bentley, Volkswagen, Skoda, Hyundai and Hyundai among others. The court on December 2, 2019 granted the Receiver/Manager leave to take possession of the assets of Stallion and the landed properties of its sister firms in line with the Deed of All Assets Debenture and several Deeds of Legal Mortgage.Five other firms, THP Limited, The Honda Place Limited, Connoisseur Investment Limited, Premium Seafoods Limited and Onward Fisheries Nigeria Limited are the defendants/respondents, while KPMG Advisory Services is a respondent.
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