AMCON CEO, Kuru.
A limited liability company, Global Sterling Products Limited has filed a notice of consequences of the disobedience of court order against the Managing Director of Assets Management Corporation of Nigeria, AMCON, Ahmed Lawan Kuru and one Lanre Olaoluwa for allegedly disobeying the order of a Federal High Court in Lagos.
The company alleged that the duo of Ahmed Kuru and Lanre Olaoluwa refused to obey the order of the court restraining the receiver from interfering with the Company’s occupation and use of the premises at number 98, Kudirat Abiola Way pending the determination of the suit before the court. Further hearing of the case has been adjourned till 26th of October, 2020.
The order of the court was sequel to an affidavit sworn to by the managing Director of Global Sterling Company Limited, Mr. Haris Puri and filed and argued before the court by a Lagos lawyer, Ade Adedeji, SAN.
Mr Puri averred that his company Global Sterling Products is the rightful owner of three Plot of land measuring approximately 2170.897 square meters within the property known as 98, Kudirat Abiola Way Oregun in Ikeja Local Government Area of Lagos State having acquire the land legitimately.
However on the 6th of March 2020, the company became aware of the subsistence of the extant suit when it was served with an order of the court by AMCON. The company was neither a party to the suit nor a beneficiary indebted to anyone including the respondents in the suit.
The order of the court as relates to the portion of the land was made as a result of misrepresentation as the property was not owned by any of the respondents rather by his company.
Mr Puri contended that the company should not suffer for the sins, ineptitude and failure of the bank to conduct a proper due diligence whose debt was purchased by AMCON, therefore unless the company’s application to set aside the orders of the court made on the 11th of April, 2019 is granted, the company will be dead as an on going concern, as the company remains victim of error by suffering huge damages due to perishable goods in the premises and factory equipment that has since remains unserviceable and open to consequential damages and loss.
The company undertakes to vacate the premises of the property in the unlikely event that in the course of hearing of the substantive suit the above facts are found to be false. Consequently, the company urged the court to vary the order and discharge it.
However in its counter and further affidavit sworn to by one Ayodele Majekodunmi, AMCON stated that a company called Cortex obtained loan from former Skye Bank now Polaris Bank which was acquired by AMCON as non performing loan. Consequently, AMCON on the 11th of April, 2019 obtained court order to attach all the assets that AMCON reasonably believed to be owned by the defendants and there is no evidence that the property is owned by Global Sterling Products, and therefore was not made a party in the suit. It therefore asked that the application of the company for variation of the order should be refused.
After listening to the submission of the two parties, the presiding Judge Chukwujekwu Aneke, ordered that “The receiver is therefore restrained from interfering with Global Sterling Limited occupation and use of the said premises contained in the said number 98, Kudirat Abiola Way pending the determination of this suit.” He thereafter adjourned till 26th of October 2020 for hearing.
But the company alleged that Mr Kuru and Olaoluwa have refused to obey the order of the court hence the filing of the (Form 48), which is notice of the consequences of disobedience of court order.
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