By Dipo Olowookere
Indications have emerged that Heritage Bank yesterday on an order of Federal High Court Ikoyi Division seized the property of Smooth Promotions Limited, owner of Hip TV, owned by Ayo Animashaun, situated at No. 4 Ogundana Street, Off Allen Avenue, Ikeja; Lagos following inability to pay back the bank loan worth hundreds of millions.
The asset was seized in execution of an order of the court authorising Mr Gani-Gidado Abubakar, who is a Solicitor and Insolvency Practitioner, as the Receiver/Manager of Smooth Promotions Limited pending the determination of the orders of Court in Suit No: FHC/L/CS/362/19.
Meanwhile, Mr Animashaun, on his social media platform, hinted that he is suing Heritage bank through his attorney, Kemi Pinheiro LP, but refused to go into details.
But a visit to the premises of the aforementioned property showed that the bank has taken possession of the property under the court order.
Also, a source who is familiar with the case disclosed that as the obligor, Mr Animashaun, who is allegedly indebted to Heritage Bank to the tune of N185 million, and all effort to have him pay up his debt has proved abortive over a long period of time, which prompted the bank to secure a court injunction from a Federal High Court in Ikoyi.
The court injunction published on Thisday Newspapers, empowers Heritage Bank to take over all properties, assets including production materials belonging to Mr Animashaun’s Smooth Promotions.
“NOTICE is hereby given that all the properties comprising of but not limited to plants and machineries belonging to SMOOTH PROMOTIONS LIMITED and falling within the ambit of the receivership have been taken over and are now in firm possession of the Receiver/Manager,” the publication stated.
Whilst the publication further noted that banks, financial institutions, companies, general interested members of the public, debtors and creditors have been directed that all deposits, cash and other Assets currently held should be held until the issuance of further instructions and pay directly to the Receiver/Manager respectively.
Meanwhile, Mr Animashaun had earlier declined further reactions on the above report; he claims the case is ongoing in court, but promised to do so when he is permitted to do so.
more recommended stories
NPF Microfinance Bank to Raise Fresh Capital, Create New 3bn Shares
By Dipo Olowookere The board of.
Heritage Bank Builds SERVICOM Unit for NIS in Lagos
Nigeria’s most innovative financial services provider,.
GTBank Announces Early Closure of Branches June 28
By Dipo Olowookere Top Nigerian financial.
Ecobank Nigeria Announces N70bn Agric Financing Scheme
A strategic partnership has been entered.
BREAKING: CBN to Raise Minimum Capital Base of Banks
By Dipo Olowookere The Central Bank.
Kudimoney Gets CBN’s MFB Licence, Rebrands
By Dipo Olowookere A local financial.
Wema Bank Shares Rise 3.18% on Rumour of Possible Board Change
By Dipo Olowookere Shares of Wema.
Standard Chartered Keeps $50,000 for Female Entrepreneurs
By Dipo Olowookere Five female business.