A Lagos Federal High Court Friday dismissed a petition filed by Omamo Investment Corporation seeking to wind up Tourist Company of Nigeria, the parent company for the Federal Palace Hotel in Lagos over a N2 billion debts.
The petition was filed by Alex Ibru's widow, Maiden, who is also Omamo's attorney. Omamo Investment is owned by the late publisher of the Guardian newspaper, Alex Ibru.
Tourist Company of Nigeria was jointly founded by Alex Ibru with two of his brothers - Goodie and Michael. In his verdict,Justice Mohammed Liman ruled that the petitioner did not comply with the statutory provisions and condition-precedent before filing the petition.
According to him, the fundamental issue that arose for determination was whether there was a valid letter of demand by the petitioner demanding that the respondent should pay the debt before the petition was filed.
VERY SAD
ReplyDeleteNa wah ooh....family and property
ReplyDeleteThose Ibru men may deal with her henceforth. Sad.
ReplyDeleteVery sad in indeed
ReplyDeletesad sad one....www.funnyfindings.blogspot.com
ReplyDelete