WEDNESDAY 29th JUNE, 2016- The Court of Appeal on Tuesday, 28th June, 2016 struck out all Ecobank’s applications to prevent Honeywell from taking advantage of a prior judgement of the Appeal Court in favour of Honeywell.
The Appeal Court earlier delivered a judgement on the 30th of March setting aside and condemning the grant of exparte orders by the Federal High Court in favour of Ecobank as injudicious.
However, Ecobank filed a motions for injunctions pending appeal with a view to prevent Honeywell from taking full advantage of the judgement delivered in it’s (Honeywell’s) favour by the Appeal Court. Honeywell also filed a counter affidavit in response to the motions for injunctions filed by Ecobank.
When the matter again came up for hearing yesterday (28th June, 2016) at the Appeal Court, the court struck out Ecobank’s motion for injunction pending appeal in suit no: CA/L/1247/2015, dated 31st March, 2016; Ecobank’s motion for stay of proceedings in suit no: CA/L/1270/2015, dated 1st April, 2016; and Ecobank’s motion for stay of proceedings in suit no: CA/L/65/2016, also dated 1st April, 2016.
By filing the motions for injunctions, Ecobank had sought to prevent smooth operations of Honeywell and its related businesses. But the decision of the Court of Appeal to strike out all Ecobank’s applications is to the effect that Ecobank cannot restrict Honeywell’s related businesses.
It will be recalled that the Federal High Court of Lagos, through a judgement by Justice Jude Dagat, delivered yesterday 27th June, 2016, also struck out Ecobank’s petitions against Honeywell and its sister companies in a related matter.
