The Federal High Court in Lagos has discharged its August 8, 2019
order, which empowered the Asset Management Corporation of Nigeria to
take over an Ikoyi property of a former governor of Cross River State,
Mr Donald Duke, over an alleged debt of N537,334,360.77.
Justice Nicholas Oweibo discharged the takeover order on Wednesday
after the parties presented him with their terms of settlement of the
case.
The parties had on September 2 told the judge that they were
exploring an out-of-court settlement and pleaded for an adjournment to
enable them to conclude settlement talks.
When they returned to court on Wednesday, AMCON’s lawyer, Juliet
Benson, told Justice Oweibo that Duke had met the terms of settlement
agreed upon by the parties.
Duke’s lawyer, Edoigiawerie Uyi, said his client had shown good faith by paying over N350m.
The two lawyers urged the judge to adopt the terms of settlements
agreed upon by their clients as the judgment of the court in the case.
Justice Oweibo, in a short ruling, granted their prayers and discharged the August 8 takeover order.
AMCON and the United Bank for Africa had on August 8, 2019 obtained
the takeover order from Justice Chuka Obiozor following an ex parte
application, marked FHC/L/CS/1373/2019.
0 comments:
Post a Comment