Justice Jude Dagat of the Federal High Court in Lagos yesterday adjourned the suit between Ecobank Nigeria Limited and Honeywell Group to March 18 for ruling.
The bank has five suits against Honeywell and its chairman Oba Otudeko -two before justice Babs Kuewunmi (who took over from Okon Abang); three before Justice Dagat (who took over from Justice Mohammed Yunusa).
Ecobank, in a petition, initiated bankruptcy proceedings against Honeywell over an alleged debt of N4.1billion which it said Honeywell owes it, but which Honeywell denies.
Justice Yunusa had frozen Honeywell’s accounts following an ex-parte application by the bank’s lawyer Mr Kunle Ogunba (SAN).
The judge restrained Otukedo, the company’s directors and subsidiaries from withdrawing from any bank or financial institution.
But Honeywell, through its lawyer Chief Wole Olanipekun (SAN) sought to discharge the order, contending that it was an abuse of court process.
Ruling, Justice unusa had held that Honeywell could withdraw up to N60million in a month pending when the suit is heard and determined. Both parties appealed.
Yesterday, Ogunba applied that the order be made binding on the other cases, adding that Justice Yunusa’s transfer to Enugu cannot invalidate the order.
But Honeywell’s lawyer, Olabode Olanipekun, argued that a ruling in one case cannot “abide” in another. He urged the court to refuse Ogunba’s prayer.
Ogunba also said he had a pending application for the appointment of a provisional liquidator in the sister case, as well as another application on notice.
“The court is duty-bound to consider the application on notice. I urge my Lord to grant the application on notice,” he said.
Justice Dagat adjourned till March 18 for ruling on Ogunba’s application, and for counsel to address him on the way forward in the other cases.