Friday, July 24, 2020

AMCON Boss Ahmed Kuru In Fresh Trouble as Company Initiates Contempt Proceeding

Company files notice of consequence of disobedience to order of the court against AMCON boss Ahmed Kuru. 

A limited liability company Global sterling products Limited   has filed a notice of consequences of disobedience to  order of the court against the Managing Director of Assets  Management Corporation of Nigeria AMCON Ahmed Kuru and one Lanre Olaoluwa    for allegedly disobeying the order of a Federal high court in Lagos. 
       The company alleged that the duo of Ahmed Kuru and Lanre Olaoluwa refused to obey  the order of the court restraining the receiver  from interfering with the Company’s occupation and use of the premises at number 98 Kudirat Abiola way  pending the determination of the suit pending before the court. 
      Further hearing of the case has been adjourned till 26th of October,2020.
 The order of the court was sequel to an affidavit and better affidavit sworn to by  the managing Director of Global sterling company Limited,Mr. Haris Puri and filed and argued before the court by a Lagos lawyer Barrister Ade Adedeji SAN, 
     Mr Puri averred that his company Global sterling Products is the rightful owner of three Plot of  land measuring approximately  2170.897 square meters within the property known as  98,Kudirat Abiola way Oregun in Ikeja local Government area of Lagos State having acquire the land legitimately, however on the 6th of March 2020, the company  became aware of the subsistence of the extant suit when it was served with an order of the court by AMCON. The company was neither a party to the suit nor a beneficiary indebted to anyone including the respondents in the suit. 
      The order of the court as relate to the portion of the land was made as a result of misrepresentation as the property was not owned by any of the respondents rather by his company.
Mr Puri contended that the company should not suffer for the sins,ineptitude and failure of the bank to conduct a proper due diligence whose debt was purchased by AMCON, therefore unless the company’s application to set aside discharging the orders of the court made on the 11th of April,2019,is granted, the company will be dead as on going concern,as the company remains victim of error is suffering huge damages due to perishable goods in the premises and factory equipment that has since remains unserviceable and open to consequential damages and loss.
       The company undertakes to vacate the premises of the property in the unlikely event that in the course of hearing of the substansive suit the above facts are found to be false.
      Consequently, urge the court to vary the order and discharge it. 
       However in its counter and further affidavit sworn to by one Ayodele Majekodunmi, AMCON stated that  a company called Cortex  obtained loan from former Skye Bank now Polaris bank which was acquired by AMCON as non performing loan,consequently AMCON on the 11th of April, 2019 obtained court order to attach all the assets that AMCON reasonably believed to be owned by the defendants and there is no evidence that the property is owned by Global Sterling Products, Consequently, it was not made a party in the suit,therefore the application of the  company for variation of the order should be refused. 
After listening to the submission of the two parties, the presiding Judge Chukwujekwu Aneke ordered that “The receiver is therefore restrained from interfering with Global Sterling Limited occupation and use of the said premises contained in the said number 98 Kudirat Abiola way pending the determination of this suit.” Thereafter adjourned  till 26th of October 2020 for  hearing, but the company alleged that Mr Ahmed Kuru and Lanre Olaoluwa have refused to obey the order of the court  hence the filling of the (form 48) notice of the consequences of disobedience of order of the court.

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