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A firm, Harmony Trust and Investment Company Ltd, has sued John Holt Plc before a Lagos State High Court, Igbosere, over a debt of N60 million.
The suit was filed after attempts to settle the matter out of court failed.
John Holt, established over a century ago with diverse investments across the country, appears to be in deep financial crisis.
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Its last yearly report for the year 2015 showed that the company was at a loss of over N300 million for last year and had not been able to pay dividends for quite some years.
But reacting to the suit when contacted on phone yesterday, Chairman, John Holt Plc, Dr. Chris Ezeh, said the matter would soon be resolved.
According to him: “We are already looking into the matter on how to resolve it.”
