By Modupe Gbadeyanka
Guinness Nigeria Plc says it has responded to a court process at the instance of Pharma Deko Plc alleging that it (Guinness Nigeria) is contractually indebted to the pharma company (Pharma Deko Plc) in the sum of N175.7 million representing an arbitral award made against the company and in favour of Pharma Deko Plc and also suggests that Guinness Nigeria is unable to pay this debt.
In a statement issued by the brewing firm, it denies being indebted to Pharma Deko Plc in the stated amount or any amount at all.
According to Guinness Nigeria, its solicitors have filed a robust defence to Pharma Deko’s claims in court.
It explained that the amount claimed by Pharma Deko Plc in the court process was an insignificant amount when compared with the revenue, cashflow and balance sheet of the company and management is very confident of being able to repudiate the claims in court.
The management of Guinness Nigeria said it “wishes to assure its employees, customers, shareholders and other stakeholders that it is capable of meeting its financial and other obligations to its various stakeholders and that it continues to operate as a going concern.”
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