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Ethiopia - Getaneh properties up for auction after loan default
By Groum Abate
The Bank of Abyssinia has put up Getaneh Trading Plc properties for auction after the latter failed to make repayments for a loan it took from the bank.
The Federal High Court a couple of weeks back froze the assets of the company flowing a series of civil suits against the latter for alleged issuance of cheques without sufficient funds to pay the orders.
The bank put up eight properties that were held as collateral by Getaneh Trading Plc, which includes five residential quarters and three buildings used for storage and other businesses.
The properties up for auction at a floor price of over 58.5 million birr were largely formerly owned by the late Yohannes Getaneh.
Four charges have also been filed by three individuals at the Federal High Court at four different times for 60 million birr worth of insufficient cheques that were allegedly issued by Getaneh Trading.
Getaneh Trading Plc has faced different lawsuits after Yohannes Getaneh, the former general manager, committed suicide.
The former major shareholder committed suicide on December 18, 2008. He was known for his initial specialization in distributing raw materials to weavers in Addis Ababa and the rest of the country. He then diversified into the distribution of blankets and other textile products manufactured by state-owned and private factories.
We need to have bankruptcy protection.
We know who is going to take over his property, of course Weyane and their crony relatives. Getaneh, as I heard has been providing textiles that is affordable for Ethiopians.
You have got to be woyane to continue grow in any major business.otherwise,if you are none Tigray,you gonna end up in jail,dead,bankrupt or robbed and deported.wake up people.Don’t be a paper tiger or cyber tyger or radio tiger.At least be a real cat.If you manage to scratch someone,it is a progress.
I knew this guy how generous he was when he was alive, but the devil took him with suicide note. I think the bible is always right when its says the source of all sin are money and greed. It’s sad to see a family one day super rich and the next day super poor.
GOd give the family strangth. Time will tell.
The HODDAMS are FEELING the HEAT. They looted the poor ethiopians with the help of weyannes and NGO and now look at them where they are heading. TO GRAVE YARD:
This is what has happend with HODDAMS and weyannes economy dry out in one day.
why he did such horrable sucide thng?
the answer is so simple and clear , having too much money is not a guaranty for a happy life ,nd whenever some one dissatisfied by the way his living , then sucided , mayGod accept his life in da heaven
No one knows what kind of justice he gotfor him to kill him self…
wow ya all missed how wyane operate. they kill you and the next thing you know the media will talk about this person made suicide. hum look back history and tell me one reach person killed him self as much as wyane administration dose. watch out for this tugs my ppl.
I heard so many good stories about Yohannes, from what I heard he directly and indirectly helped so many Ethiopians poor, young and old etc. to become successful in what they do best (business, school etc). God bless his soul.
Senait U r mean and stupid. You don’t even have the decency and the brains to give comments about sad issues like this. U probably r mendere.
Unfortunet for free business even more so for the owner dearly departed. This is going to go to the sheik alamudi… just watch.
Yohannes what great person he was ,kind very spritual,honest,loveable looking 4 poor anyway its sad!!God bless his soul. Brave 4 his 3 kids&his wife.
What do u expect when you area dealing with devils woyane and al amed!!
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