A
Federal High Court in Lagos on Monday vacated an order granted the Asset
Management Company of Nigeria (AMCON) to take over Terminal 2 of Murtala
Mohammed International Airport.
Justice
Ibrahim Buba, in a ruling, upturned the order on the grounds that it was an
abuse of court process since the order was obtained in the face of previous
pending cases and specific orders, reports News Agency of Nigeria (NAN).
Justice
Okon Abang of the same court had on September 22 granted receivership of assets
of Wale Babalakin, Bi-Courtney’s chairman, to Olisa Agbakoba.
Agbakoba
was appointed receiver/manager over all the companies of Babalakin, including
MMA2, Bi-Courtney Ltd, Chartered Investment Limited, Resort International Ltd
and Roygate Properties Ltd.
The
orders were based on
a N50-billion debt allegedly owed AMCON by Babalakin.
Justice
Ibrahim Auta, chief judge of the Federal High Court, however, re-assigned the
case to Justice Buba, who was handling previous cases between the parties.
At
the hearing of the case, Wale Akoni, counsel to Babalakin, urged the court to
suspend the interim order made by Abang which granted Agbakoba authority to act
as receiver for the companies.
Akoni
argued that the integrity of the court had been badly affected with the
conflicting order and that there was a need for the court to act fast and stop
the development.
He
said the court had been scandalised by the orders of the other judge.
The
lawyer said Buba had made specific orders restraining AMCON from appointing a
receiver/manager for the companies.
“For
AMCON to now secretly obtain another order at variance with a subsisting order
from a different court is an attempt to scandalise this court and cause
confusion,” he said.
Upturning
the earlier order, Buba described the action of AMCON as nothing but that of a
party who felt that a court can only “bark, but not bite”.
The
judge added that it was clear from the processes before the court that his brother
judge was misled by AMCON into granting the interim orders having failed to
notify the court of existing orders.
Buba
then vacated the order of Justice Abang holding that it was clearly an abuse of
court process.
He,
however, advised the parties to consider out-of-court settlement.
“I
don’t want to talk much on this matter, but I wonder if lawyers cannot resolve
this dispute amicably,” he said.
He
adjourned the matter to December 9 for mention.
Businessday
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