25 January 2013

Nigeria: Capital Oil and Gas Accuses Cosharis, Bank of Violating Court Order

The Managing Director of Capital Oil and Gas Limited, Mr Patrick Ifeanyi Uba, Friday, told a Federal High Court sitting in Lagos, that Cosharis Motors Limited and Access Bank undermined the judiciary by obtaining an order from a London Court, which was in violation of an existing order of the Federal High Court.

It will be recalled that Justice Okon Abang of the Federal High Court, Lagos had restrained Access Bank and Cosharis from tampering with the assets of Capital Oil and Gas Limited, pending the conclusion of a case by Uba against them.

The court also restrained the respondents from doing anything against the business interests of Uba and Capital Oil.

At the resumed hearing in the matter, counsel to Uba, Chief Wole Olanipekun, SAN, accused Cosharis and the bank of violating the subsisting orders of the court.

He argued that after the Federal High Court made the orders, the respondents approached a London court, where they obtained another order that violates the existing orders of the Federal High Court, Lagos.

Olanipekun described the action of the bank as lawless and one which is condemnable.

Access Bank's counsel, objected to the admissibility of the order and proceedings of the London Court on the ground that they were not certified.

The bank denied the allegation that it had violated Justice's Abang's orders, contending that the assets and business interests of Capital Oil were still intact.

Cosharis' counsel, adopted the same argument.

The bank and Cosharis are challenging the jurisdiction of the court to entertain the matter.

The court in a short ruling, said it was going to hear argument on the alleged violation of his orders.

"The only valid and cherished property of the court is its orders and judgments.

"I don't want to be a dog that can only back and not bite. In the light of the Supreme Court decision in the case of Ebodage and Okoy, I hereby suspend proceedings on challenge to the jurisdiction.

Meanwhile, the court will on January 28, rule on the alleged violation of the court orders by the respondents.

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