Mr Donald Duke
The Federal High Court in Lagos has discharged its August 8, 2019 order, which empowered the Asset Management Corporation of Nigeria to take over an Ikoyi property of a former governor of Cross River State, Mr Donald Duke, over an alleged debt of N537,334,360.77.
Justice Nicholas Oweibo discharged the takeover order on Wednesday after the parties presented him with their terms of settlement of the case.
The parties had on September 2 told the judge that they were exploring an out-of-court settlement and pleaded for an adjournment to enable them to conclude settlement talks.
When they returned to court on Wednesday, AMCON’s lawyer, Juliet Benson, told Justice Oweibo that Duke had met the terms of settlement agreed upon by the parties.
Duke’s lawyer, Edoigiawerie Uyi, said his client had shown good faith by paying over N350m.
The two lawyers urged the judge to adopt the terms of settlements agreed upon by their clients as the judgment of the court in the case.
Justice Oweibo, in a short ruling, granted their prayers and discharged the August 8 takeover order.
AMCON and the United Bank for Africa had on August 8, 2019 obtained the takeover order from Justice Chuka Obiozor following an ex parte application, marked FHC/L/CS/1373/2019.
You may be interested
Breaking: BudgIT Co-founder, Seun Onigbinde, resigns appointment as technical Adviseradmin - September 16, 2019
Co-founder of BudgIT, Seun Onigbinde, has announced his resignation as Technical Adviser to the Minister of State for Budget and…
Nigerians on Twitter react to killings of ladies in hotels in PortHarcourtadmin - September 16, 2019
Nigerians have called for the police and relevant government authorities to take action over the recent killings of ladies at…
EPL: De Gea speaks after signing new contract at Man Utdadmin - September 16, 2019
Manchester United goalkeeper, David De Gea has signed a new long-term contract at the club that will keep him at…