Pharma-Deko begins committal proceedings against Guinness
Pharma-Deko Plc, yesterday initiated a committal proceedings against Guinness Nigeria Plc, at a Federal High Court in Lagos. The application is seeking to commit two management staff of Guinness to prison for violating the law, as stipulated under the Company And Allied Matter Act, (CAMA).
The proceeding arose in the course of a winding up petition that was instituted against Guinness over a debt of N175, 699, 317.99 million. Pharma-Deko, in its winding-up petition had approached the court seeking to wind-up the bcompany.
At the resumed hearing of the petition, the counsel to Pharma-Deko Plc, Mrs. A. Williams Akinjide, informed the court that her client had filed two motions in relation to the matter.
She said the first was to commit the two management officials to prison, while the second was to secure an injunction restraining Guinness, it’s directors, staff, agents and privies from making any application to the Nigerian Stock Exchange in respect of Guinness Nigeria’s stocks and shares or dealing in any of its assets
However, counsel to Guinness, Mr. M. Mordi, said he had filed an application challenging the court’s jurisdiction in entertaining the petition on the ground that the alleged debt was status bar, having been over eight years.
Mordi said his client’s application dated January 23, 2017, is also seeking for a stay of committal proceedings against his client, pending when the issue of jurisdiction was resolved.
However, the trial judge, Justice Hadizat Rabiu-Shagari, has adjourned till Monday April 10, 2017, for hearing of all pending applications.
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