Lagos - The Federal Court of Appeal in Lagos has
granted Honeywell Group’s appeal for accelerated hearing in its dispute with
Ecobank Nigeria Limited.
Officials confirmed the Appeal Court took the decision on
Wednesday when the matter of Honeywell Flour Mills’ appeal against the exparte
orders granted by Justice Mohammed Yunusa in favour of came up for hearing.
The last time the matter came up in court, on January 27,
the court adjourned the matter for hearing all pending applications and that if
time permits, proceed to hear the substance of the appeal.
However on Wednesday, Counsel to Honeywell, Wole Olanipekun,
urged the court to allow the expedited hearing of the appeal.
Also read: Bankers body backs Honeywell in feud with Ecobank
He further stated that if the court decides not to hear the
appeal, Honeywell Flour Mills’ application to suspend the order granted by
Justice Yunusa should be heard.
Counsel to Ecobank, Kunle Ogunba informed the court that the
ruling of Justice Yunusa, which formed the basis for this appeal was just
brought to him by Honeywell Flour Mills’ counsel.
Ogunba urged the court to allow him respond to Honeywell’s
amendment of processes before the hearing of the appeal.
After hearing oral arguments from both counsels, the court
agreed to an accelerated hearing of the appeal and adjourned the matter to
February 22 for the hearing of the appeal.
The dispute over the N3,5 billion dates back to July 2013
when both parties agreed Honeywell would pay the sum in full and final
settlement of the indebtedness of three member companies of the Honeywell Group
– (Honeywell Flour Mills Plc, Anchorage Lesiures Limited and Siloam Global
Services Limited) who obtained facilities from Oceanic Bank, a wholly-owned
subsidiary of Ecobank, between 2006-2008.
- CAJ News