Bank loses suit against firm
04 June 2019 |
3:37 am
A Federal High Court, Lagos has dismissed a suit by Union Bank seeking to recover an alleged debt from a multinational firm, Petrocam Trading Nigeria Limited. Justice I. N. Oweibo, in a suit marked FHC/L/CS/383/2018 held that the bank’s suit was an abuse of court process. Petrocam Trading Nig Ltd, Mr Patrick Ilo and…
Union bank
A Federal High Court, Lagos has dismissed a suit by Union Bank seeking to recover an alleged debt from a multinational firm, Petrocam Trading Nigeria Limited.
Justice I. N. Oweibo, in a suit marked FHC/L/CS/383/2018 held that the bank’s suit was an abuse of court process.
Petrocam Trading Nig Ltd, Mr Patrick Ilo and Petrocam Trading (PTY) Ltd South Africa were the first to third Defendants/Applicants while Union Bank was the Plaintiff/Respondent in the suit.
Justice Oweibo upheld the applicants/defendants application filed through their counsel, Gboyega Oyewole (SAN).
The application was premised on seven grounds, one of which was “that the defendant/applicant has a subsisting action against the plaintiff/respondent on the same subject matter before the Lagos State High Court in suit No: LD/3511CMW/18.
The firm also said that the pIaintiff/respondent is aware of the pendency of the above mentioned suit pending before the Lagos State High Court and that the action before the State High Court is on the same subject matter and between the same parties as in the present suit.
Consequently, the judge held that: “The Plaintiff (Union Bank) knew of the existence of the suit in the High Court of Lagos State, the deposition in paragraph 5(a)(b) of their counter affidavit notwithstanding.
“It is my view that the plaintiff in this case did not exercise its right to file an action bona fide: it was intended to overreach the defendant and that constitutes an abuse.
“On the above I hold that this suit filed during the pendency of Suit No. LD/3511/CMW/18 before the Lagos State High Court is abuse of court process. This suit is accordingly dismissed.”
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