JUST IN: COURT VOIDS SALE OF ETISALAT
Read Time:50 Second
Joseph Omoniyi
A Federal High Court in Abuja nullified the sale of telecommunication firm, Etisalat International Nigeria Limited (9mobile) to Teleology Nigeria Limited.
In a ruling delivered by Justice Binta Nyako, all steps taken in relation to the exchange of ownership of Etisalat were voided, despite pending orders for maintenance of status quo, restraining parties to a suit, involving investors and other stakeholders in the company, from destroying the res (subject matter).
The Nations reported that, Justice Nyako, who noted that parties were all aware of the existence of the suit, the defendants having been served between April 24 and 27, 2018 with the originating process, faulted the sale, as claimed by the plaintiffs in a motion filed on November 16, 2018
The judge held: “Any action that has been taken concerning the rest of this litigation from the 25th day of April, which is earlier in time, should revert to the position, as of the res, to its 25th day of April 2018.”
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0