{"id":355414,"date":"2011-04-01T04:06:56","date_gmt":"2011-04-01T04:06:56","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/04\/01\/intercontinental-bank-shareholders-ask-court-to-nullify-alleged-mou\/"},"modified":"2011-04-01T04:06:56","modified_gmt":"2011-04-01T04:06:56","slug":"intercontinental-bank-shareholders-ask-court-to-nullify-alleged-mou","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/04\/01\/intercontinental-bank-shareholders-ask-court-to-nullify-alleged-mou\/","title":{"rendered":"Intercontinental Bank shareholders ask court to nullify alleged MoU"},"content":{"rendered":"
\n

By INNOCENT ANABA<\/strong><\/p>\n

LAGOS\u00a0– Some shareholders of Intercontinental Bank Plc have asked a Federal High Court sitting in Lagos, to nullify the alleged Memorandum of Understanding, MoU, signed\u00a0 with Acess Bank Plc on March 29, 2011,\u00a0 despite the suit challenging plans by Acess Bank to take over\u00a0 Intercontinental Bank.<\/p>\n

The shareholders had challenged the propriety of the planned sale of their bank to Access Bank, and\u00a0 prayed the court\u00a0 to nullify or\/and set aside in its entirety, all steps and\/or action taken by Intercontinental Bank, its Managing Director, Mr. Mahmoud Lai Alabi and management of the two banks\u00a0 in \u201cpurportedly\u00a0 signing and\/or cause to be signed an MoU between the two banks for allegedly purpose of business combination of both institutions.\u201d<\/p>\n

The plaintiffs are asking the court to vacate or declare\u00a0 the purported MoU, itself as claimed in a \u201cJoint Press Statement\u201d dated\u00a0 March 28, 2011 in the name and\/or behalf of both banks and published in a paid advertorial in the national dailies on March 28, 2011 during the pendency of this suit for being invalid, null and void and of no effect whatsoever.<\/p>\n

Mr Onyebuchi Aniakor, counsel to the shareholders, in the application, praying the court to set aside the alleged MoU, argued\u00a0 that the court had on March 3, 2011 after hearing the petitioners\u2019s ex-parte application, for orders, directed that the respondents be put on notice in respect thereof and adjourned the same to March 11, 2011, which they did.<\/p>\n

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\nIntercontinental Bank shareholders ask court to nullify alleged MoU<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

By INNOCENT ANABA LAGOS\u00a0– Some shareholders of Intercontinental Bank Plc have asked a Federal High Court sitting in Lagos, to nullify the alleged Memorandum of Understanding, MoU, signed\u00a0 with Acess Bank Plc on March 29, 2011,\u00a0 despite the suit challenging plans by Acess Bank to take over\u00a0 Intercontinental Bank. The shareholders had challenged the propriety of the planned sale of their bank to Access Bank, and\u00a0 prayed the court\u00a0 to nullify or\/and set aside in its entirety, all steps and\/or action taken by Intercontinental Bank, its Managing Director, Mr<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-355414","post","type-post","status-publish","format-standard"],"yoast_head":"\nIntercontinental Bank shareholders ask court to nullify alleged MoU - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/04\/01\/intercontinental-bank-shareholders-ask-court-to-nullify-alleged-mou\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Intercontinental Bank shareholders ask court to nullify alleged MoU - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"By INNOCENT ANABA LAGOS\u00a0- Some shareholders of Intercontinental Bank Plc have asked a Federal High Court sitting in Lagos, to nullify the alleged Memorandum of Understanding, MoU, signed\u00a0 with Acess Bank Plc on March 29, 2011,\u00a0 despite the suit challenging plans by Acess Bank to take over\u00a0 Intercontinental Bank. 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