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Company director challenges property sale to Oyakhilome


Pastor-Chris-OyakhilomeA DIRECTOR in Ibika Investment and Property Limited, Olubukunola Osomo (nee Fashina) has filed an action before a Federal High Court, Lagos challenging the sale of the shares and properties of her late fathers’ companies to Pastor Chris Oyakhilome of Christ Embassy.

The plaintiff is praying the court to reverse the sale and the meetings allegedly conveyed in her absence as a director of the company to effect the transfer.

Those joined as respondents in the suit are Ibika Investment and Property Limited, Fashina Kofoworola Olakunle, Fashina Mabayomije Omololu, Oyinlade Ololade Olaseni (nee Fashina), Kesley Greene Nigeria Limited, Pastor Cynthia Emmanuels.

Others are Corporate Affairs Commission, the Incorported Trustees of Believers Love World Ministries (A.K.A Christ Embassy Church), Pastor Christopher Oyakhilome (A.K.A Pastor Chris Oyakhilome) and Papercraft Nigeria Limited.

The plaintiff is asking for a declaration that the 2nd and 3rd defendants act of removing the Plaintiff as a director in the 1st defendants company is invalid, null and void having not been in compliance with theprovisions of clause 13 of the Articles of Association of the 1st defendant.

She is also praying for a declaration that the plaintiff cannot be removed as a director of the 1st defendant under the provisions of section 259 of the Companies and Allied Matters Act as the removal or continuation in office of the Plaintiff is first and foremost subject to the provision of Clause 13 of the Articles of Association of the 1st defendant.

According to the writ of summons filed on her behalf by Chief Bolaji Ayorinde (SAN) chambers, the plaintiff asked the court to declare that all proceeding of the purported meeting of the 1st defendant’s board of directors held on 14th September 2011, 14th November 2011 and 18th April 2011 are null and void and of no effect whatsoever, having been irregularly conducted in the absence of the Plaintiff or inthe absence of any notice given to the plaintiff.

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