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Wednesday, May 25, 2011

Arisekola-Alao must be declared Bankrupt!-GTBank orders court.

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Guaranty Trust Bank Plc has asked a federal High Court, Lagos, for an order declaring renowned businessman, Alhaji Abdul Azeez Arisekola Alao bankrupt for his alleged inability to pay a N6.9 Billion loan facility granted to his company.
The Bank also wants the court to order that all assets, interests and holdings of Arisekola either held personallyor through third parties and privies, be liquidated and the proceeds applied towards offsetting his debts.
It further alleged debtor of all shares, interests and holdings in all public and private companies and a perpetual injunction restraining his appointments as a Director in any public or Private company in Nigeria.
The Bank said it has imperative for the court to make these orders because Arisekola i also indebted to many banks and that a large number of his assets have been pledged to these banks as security for the loans.

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