| Debtors & Recovery |     3481 VIEWS  |
| Debtors & Recovery | |
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Monday, October 08,
2018 0.12AM / By James Emejo of THISDAY Newspapers
Ecobank
Nigeria Limited has said it will strongly resist any attempt by the Honeywell
Group to employ a “frivolous N72 billion” lawsuit to derail it from pursuing
the recovery of monies owed and overdue for payment by the latter.
The
media had recently been awashed with reports that Honeywell had filed a suit
claiming damages in the sum of N72 billion against Ecobank following a
controversial credit deal between both parties.
Reacting to the
purported court action against it, the bank, in a statement by its management,
a copy which was made available to THISDAY yesterday, said it remained
unperturbed by the seeming intimidation by Honewell.
It
said:”Ecobank is unhindered by the continued attempts to coerce the public into
believing that the Honeywell Group has fully paid its overdue
indebtedness.
“It
is noteworthy that Honeywell’s recent claim for damages was published and
serialised in the news media even before the bank was served with the court
papers, which clearly elicits the ‘motive’ of a party owing huge sums of money.
“Indeed
the purport of the matter is most curious especially as there are other pending
matters in court which remain undecided.”
Furthermore,
the bank noted that as as a responsible corporate citizen, it’ll rather allow
due process to prevail in court rather than resorting to the media.
It
added:”Our resolve is to fight to ensure that debtors fully honour their
obligations after benefiting from credit facilities which helped to grow their
businesses.
“Ecobank
is the Pan African bank with representation across 36 countries. The Ecobank
Group supports various businesses in all the countries in which it operates
while holding customer deposits in safe trust.
“In
the same vein, Ecobank is resolute that the businesses it supports should
also honour their obligations when due.
“This
is the crux of the demand on the Honeywell Group to pay their debts in full.”
Related News
1.
Honeywell
Sues Ecobank N72bn For Damages After Failed Ex-parte Sept 25, 2018
2. Alleged N3.5bn debt: Ecobank loses appeal against Honeywell ... Aug 11, 2018
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