The Court of Appeal sitting in Lagos, yesterday, adjourned till February 10 to hear an appeal by Honeywell group, seeking to vacate an order limiting it’s financial transaction.
Justice Mohammed Yunusa of a Federal High Court in Lagos, had on December 14, 2015 issued the interim order in a suit between Ecobank Plc and Honeywell group.
The suit is sequel to an alleged N3. 5 billion unpaid loan facility granted by Ecobank to Honeywell. Yunusa had issued an interim order, limiting Honeywell to N15 million weekly withdrawal from the company’s account.
At the hearing on the matter, yesterday, counsel to Ecobank, Mr Kunle Ogunba, SAN, informed the court that he had just been served with the court processes and prayed the court for time to allow him respond to same.
In response, counsel to Honeywell, Mr Dapo Olanipekun, SAN, appealed to the court to expedite action on the appeal owning to the urgency of the matter. He said that the order had obstructed the flow of work of his client, urging that the court expedites action.
The court presided by Justice Sidi Bage, said it would do its best to give both parties an opportunity at a fair hearing, adding that the matter was not yet ripe for hearing. The court consequently, adjourned to February 10 for hearing of pending applications.
