Lagos - The proposed sale of Mainstreet Bank may hit a brick wall as a stakeholder in the bank, Intangis Holdings, is threatening to sue the Asset Management Corporation of Nigeria (AMCON).
Intangis Holdings, an American financial and investment company that specialises in emerging markets, is accusing AMCON of engaging in actions that are detrimental to global business practices, reports The Nation.
Intangis grouse with AMCON is that the corporation has taken steps to divest from the bank without making provision for certain liabilities of the bank, estimated at $1.4 billion.
AMCON has, however, dismissed as frivolous the claims made by Intangis Holdings.
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