Guinness Nigeria files defence against Pharma Deko, rejects debts claims of N175.7m

Guinness Nigeria has said its its solicitors have filed a robust defence to Pharma Deko’s claims in court. Pharma Deko which alleges that Guinness Nigeria is contractually indebted to Pharma Deko in the sum of N175, 699, 317.99 representing an arbitral award made against the company and in favour of Pharma Deko Plc, also suggests that Guinness Nigeria is unable to pay this debt.

Guinness Nigeria in a statement released at the weekend has however denied being indebted to Pharma Deko in the stated amount or any amount at all.

According to the statement, Guinness Nigeria, said it confirms that it has responded to a court process at the instance of Pharma Deko and that the amount claimed by Pharma Deko in the court process is 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.

Guinness Nigeria assured 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.