…To seek redress
By Adewale Sanyaolu
The management of MRS Holdings Limited has denied the allegation by the Asset Management Company of Nigeria (AMCON) that it owed the corporation N81 billion.
MRS in a statement made available to Daily Sun, denying the claim, frowned at the institution of Suit No: FHC/L/CP/923/2016 to wind up the company over its inability to pay the alleged debt.
‘‘MRS challenges in the strongest possible terms the false claim by AMCON that MRS is indebted to it in the sum of N81 billion or any sum at all.
“The correct position is that MRS obtained a loan from a consortium of banks in Nigeria for a viable project. AMCON took over the loans. However, it became clear to AMCON that MRS was paying down on the loan and agreed to restructure the loan on agreed terms of N74 billion. The said debt has since been fully settled while the terms of settlement was entered as Judgment of Court on June 29, 2015, in Suit No: FHC/L/CS/1365/2015.” But despite the settlement of claims, MRS said it was shocked that AMCON had decided to re-litigate an already concluded matter.
‘‘MRS understands AMCON’s statutory function to recover debts but by no stretch can this mean harassment of companies. AMCON has declared a new aggressive debt recovery drive. MRS has no problem with that but this does not give AMCON a licence to embarrass and harass companies.
“It is not a crime to obtain loans for viable projects. Execution of viable projects leads to job creation and growth of the economy. However, when companies that obtain loans for legitimate businesses are being harassed and embarrassed in the name of aggressive debt recovery, it signals danger for economy growth,” the statement said.
MRS said it is taking legal advice to clear its good name and bring necessary actions to seek damages for the embarrassment and damage caused the company’s reputation and goodwill by AMCON’s publication and action.
‘‘MRS assures all its customers and business associates that the newspaper report will not affect the company and its subsidiaries’ high quality services that it has always been known for and would seek redress for the damages caused by the publication.
“MRS further assures the general public that MRS Holdings Limited and its subsidiaries will continue to transact their businesses with the highest ethical standards and in accordance with the extant laws of the country,” the statement added.