Again, Court refuse to hear Shoprite’s application to lift injunction over $47m debt

For second the time in one week, a Federal High Court, Lagos, has refused to hear Shorite Checkers (PYT) application, seeking to lift injunctions restraining them to move out of the country, over alleged debt of $47 million. The court presided over by Justice Nicholas Oweibo, had on last Tuesday, refused to hear same application brought before him by Shoprite’s counsel, Mrs. Funke Adekoya (SAN), on the ground that there was no any existence urgency to hear the application. At court’s resumed sitting today, another lawyer, Adedapo Tunde Olowu, again appeared…

Read More

Court declines to vacate order halting Shoprite’s exit from Nigeria over $47m debt

Justice Nicholas Oweibo of a Federal High Court, Lagos, today, turned down Shoprite Checker’s application, seeking to vacate orders stopping it from moving out of Nigeria or have its assets, both movable and immovable dissipated. It would be recalled that Justice Muhammad Liman of the same court had sometimes last month stopped Shoprite Checker (PYT) from exiting the country over alleged $47 million debt. Justice Liman made the exparte order while granting an application filed by a limited liability company, A.I.C. Limited, in a suit marked FHC/L/CS/881/2020. Others affected by the order…

Read More

Alleged $47m debt: Court halts Shoprite’s move to exit from Nigeria

Proposed move by the promoters of the largest retailing store in Nigeria, Shoprite Checker (PYT) to quit country or have its assets, both movable and immovable, dissipated, has been stopped by a Lagos Federal High Court, Lagos. The brick wall met by the Shoprite Checker’s promoters was sequel to an exparte order issued by the court presided over by Justice Muhammed Liman, who granted request of a limited liability company, A.I.C. Limited, in a suit marked FHC/L/CS/881/2020, against the largest retailing store and three others. Other listed in the exparte…

Read More