Court dismisses case against OIC for lack of merit
A Federal High Court sitting in Lagos has dismissed a case instituted by Holidays & Tours Limited against Odu’a Investment Company Limited for lack of merit.Delivering judgment on the matter, Justice I. N. Buba, affirmed that there was no valid and subsisting contract between Odu’a Investment Company Limited and Holidays & Tours Limited as claimed by Holidays & Tours in the case.
In a statement issued by Head Corporate Affairs, Odu’a Investment Company, Victor Ayetoro, Holiday & Tours alleged that there was a subsisting contract between it and Odu’a Investment Company Limited whereby Lagos Airport Hotel, a subsidiary Company of the Odu’a Group was leased to it on “Lease, Redevelop, Operate and Transfer (LROT) basis.
Holiday & Tours, therefore, placed a Caveat Emptor (buyers beware) in one of the National Newspaper of April 21, 2017 warning potential investors to disregard the expression of interest advert placed by KPMG on behalf of Odu’a to reposition Lagos Airport Hotel.
Justice Buba, however, ruled that Holidays & Tours failed to prove that there was a contract between it and Odu’a and, therefore, the plaintiff was not entitled to any relief to award damages or injunction as being sought.
While dismissing the case for lack of merit, the trial Judge referred to Holidays & Tours as “a busy body, gold digging and dishonest suitor trying to reap where it never sowed.”
“The relief being sought by the plaintiff is the most egregious relief. The plaintiff was a small outfit, which before its bid in the LROT scheme never operated a major hotel in Nigeria but now sought this gold digging prayer to be granted N1billion gratuitously.”
Justice Buba also pronounced that the plaintiff is in the mildest being clever by half and in the strongest of terms plain dishonest, noting that the suit is a fund-raising project, while other reliefs have been thrown in as red herrings to give the impression that the plaintiff wanted to perform the contract.The case instituted by Holidays & Tours was, therefore, dismissed for lack of merit.