Honeywell boss Otudeko set to testify in suit against Ecobank

Dr. Oba Otudeko, Chairman, Honeywell Group, through his lawyer, Bode Olanipekun, has indicated his readiness to testify in the ongoing matter between his firm and Ecobank.

Otudeko’s lawyer had informed the court of the readiness of his client to appear on any date to provide evidence that will assist the court in determining the merits of evidence adduced by both parties when the Honeywell vs Ecobank matter (Suit No: FHC/L/CS/1219/2015) came up Wednesday (February 7th) before Justice Idris of the Federal High Court, Lagos Judicial Division.

The case has however been adjourned to Thursday February 8, about eight months after he made his intentions to testify known.

It will be recalled that at a hearing on the matter in June, 2017, Dr. Oba Otudeko had signified his interest in testifying in the suit.

However, instead of proceeding with the suit, Ecobank filed several applications seeking stay of proceedings.

In continuation of the hearing, Ecobank sought to move another application for stay of proceedings. But the trial judge after hearing the arguments of both parties dismissed the application with Honeywell Group’s lawyer, Mr Olanipekun, consequently praying the court to continue the hearing of the suit with the defendant (Ecobank) opening its case.

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Justice Idris thereafter adjourned the matter to Thursday 8th February.

The Honeywell suit was instituted in 2015 praying a determination as to whether or not Honeywell is indebted to Ecobank.

In response to this suit, Ecobank challenged the jurisdiction of the Federal High Court to hear the suit, which was rejected by the Federal High Court and Justice Idris ruled that the Court indeed had jurisdiction to hear the matter.

Ecobank appealed this decision at the Court of Appeal. Aligning with the decision of the Federal High Court on its jurisdiction to hear the matter, the Court of Appeal by its final judgement of 30th March 2016 dismissed Ecobank’s appeal and ordered the accelerated hearing of the matter before Justice Idris.

The suit is sequel to an alleged N3.5 billion unpaid loan facility which Ecobank gave Honeywell.

 

 

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