The Federal High Court, Lagos, has vacated the receivership of Edmark Direct Marketing Limited, a healthy living products marketing company. Justice Dan Osiagor made the order on May 2, 2023, and re-affirmed it on July 4, 2023, thus ending the controversial appointment of the receiver/manager, Mr. Seyi Akinwunmi. In May 2022, Justice C.J. Aneke appointed Mr. Akinwunmi as receiver/manager of Edmark upon the ex-parte application of its minority shareholder, Mr. Maurice Etim Anthony, who is laying claim to 5 per cent unpaid shares of Edmark.
July 5, 2023The Federal High Court, Lagos, has vacated the receivership of Edmark Direct Marketing Limited, a healthy living products marketing company.Justice Dan Osiagor made the order on May 2, 2023, and re-affirmed it on July 4, 2023, thus ending the controversial appointment of the receiver/manager, Mr. Seyi Akinwunmi.In May 2022, Justice C.J. Aneke appointed Mr. Akinwunmi as receiver/manager of Edmark upon the ex-parte application of its minority shareholder, Mr.
Counsel representing the receiver/manager, Mr. Alade contended that the order of court of May 2, 2023 was directed to a liquidator and not the receiver/manager, even though there is no liquidator for the company.The Court then corrected its records and stated that the order made on May 2, 2023 was directed to the receiver/manager and that the mention of the liquidator was a minor slip that the court has the power to correct.
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