Ecobank appeals order striking out winding-up petition
(Nigeria) Ecobank Nigeria Limited has appealed a ruling by Justice Jude Dagat of the Federal High Court in Lagos, striking out its winding-up petition against Honeywell Group Limited and its sister company Anchorage Leisures Limited.
The lowe court judge, Justice Dagat had in its ruling of Monday held that
Ecobank’s suit was an abuse of court process.
But, Ecobank, through its lawyer Kunle Ogunba, SAN, has
lodged two appeals at the Court of Appeal, Lagos, against the companies on
seven grounds each.
The bank is praying the appellate court to set aside Justice
Dagat’s consolidated ruling striking out the petition, as well as an order
directing the Chief Judge of the Federal High Court to re-assign the petition
to another judge for hearing.
Ecobank is also praying the appellate court to restrain
Honeywell and Anchorage or their agents from taking advantage of Justice
Dagat’s ruling as it relates to their funds of all the banks in Nigeria pending
the determination of the appeal.
The appellant is also urging the appellate court to
“urgently assign a date for hearing of the duly filed motion for injunction in
the interest of justice and in pursuance of the abiding tenet to always hold
the scale of justice evenly and balanced between contending parties.”
Ecobank filed the winding-up petition against Honeywell
Group’s inability to pay an alleged debt to the tune of N5.5billion, but same was
struck out by the lower court for constituting an abuse of court process.
Ecobank is praying the appellate court to allow its appeal
because Justice Dagat erred in law on several grounds.
In one of the
grounds, it said the judge occasioned a gross miscarriage of justice and erred
in law when it struck out the winding-up petition on the ground that the
indebtedness is disputed.
“Learned trial judge
occasioned a gross miscarriage of justice by striking out the appellant’s
petition on grounds of an alleged repayment made outside contract and on terms
vehemently opposed by the appellant,” the bank said.
Ecobank said the judge also erred in holding that its
petition amounted to an abuse of court process because of a suit by the
companies pending before Justice Mohammed Idris of the same court.
“The exercise of a
right to commence a fresh action rather than counter-claim in a previously
commenced action by an adversary is not an abuse of court process,” the bank
said.
The appellant said Justice Dagat also erred by holding that
it did not observe all preconditions in commencing the suit because “there is
no precondition to be fulfilled before a party can exercise his constitutional
right of recourse to court.”
The bank added: “Rights guaranteed by the Constitution are
inalienable, fundamental and ranks higher to all statutory provisions including
the provisions of the Companies and Allied Matters Act.”
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