Out of court settlement in N58.9b loan dispute inconclusive, parties tell court

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Out of court settlement in N58.9b loan dispute inconclusive, parties tell court
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“We have not gotten any feedback that the matter has been settled and therefore intend to proceed with our motion.” Loan Settlement Court

Lead counsel for the firms, OAR Ogunde and his AMCON counterpart, Kunle Ogunba informed Justice Mohammed Liman of the federal high court, Lagos, of this development at the last hearing.

“If the claimant can be restricted, then this will encourage us to wait for settlement because expensive buildings can attract thieves if left unoccupied”, he argued. “The defendant has a legion of companies, which they operate. We have put a system in place to attend to affected third parties. One of them is Saipem Contracting Nig Ltd, who wants to leave and we have instructed them to write to us,” Ogunba said.

Counsel for one of the tenants, Saipem, Mr. Olugbenga Onalaja informed the court that he had written to Ogunba , seeking to be allowed to go into the property to take out his assets since his tenancy had expired. The court therefore struck out the notice of claim filed by Saipem, saying that it had been overtaken by events. The judge also discharged all the banks that filed affidavits indicating that they had no account with the firms.

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