Boardroom Crisis: Court Refuses to Vacate Interim Order against Abiola’s Daughter, Others

Wale Igbintade

Justice Nicholas Oweibo of the Federal High Court in Lagos, yesterday dismissed an application filed by a leading energy company, Duport Energy Company, seeking to set aside an interim order restraining four of its directors from interfering in anyway whatsoever in the day to day running of the Duport Midstream Company Ltd.

The judge in his Ruling held that there was no urgency to hear the application during court vacation.

A sister court, presided over by  Justice Ambrose Lewis-Allagoa had restrained some directors of Duport Midstream Company from interfering in the day to day running of the company.

The court order was sequel to a   motion Ex-parte dated and filed on the 25th day of April, 2023 before the court.

The affected persons are Oluwatosin Odusanya,  Mobolaji Kuku, Oladipo Adeniyi, and Wuraola Abiola.

The order reads: “That an Order of Interim Injunction is granted restraining the 2nd to 5th Respondents, their agents, servants, privies, representatives or any person whosoever acting on their behalf from interfering in anyway whatsoever in the day to day running of the Plaintiff /Applicant, pending the Hearing and determination of the Motion on Notice.

“That an Order of Interim Injunction is granted restraining the 2nd to 5th Respondents, their agents, servants, privies, representatives or any person whosoever acting on their behalf from interfering in anyway whatsoever in the day to day running of the Plaintiff/Applicant, pending the Hearing and determination of the Motion on Notice.

Dissatisfied, Duport Energy approached the court to set aside the order during court vacation.

Refusing the application, Justice Oweibo, stated that there was no urgency to set aside the matter during court vacation.

The matter has been adjourned to 24th of  August to hear Duport Midstream’s application to hear Contempt Proceedings during vacation.

Justice Oweibo had set aside an ex parte order obtained by Duport Energy Limited in a suit it filed over the control of Duport Midstream Company Limited.

Justice Oweibo held that Duport Energy obtained the order by misrepresentation and concealment of material facts in the case.

Duport Energy Limited had in the suit sued Duport Midstream Company Limited & others.

Duport Energy Limited is allegedly aiming to take over the control of Duport Midstream Company Limited through its minority shareholding.

It was alleged that in a bid to achieve the aforesaid takeover of management control, the aforesaid minority directors are disruptive by subjecting all decisions regarding the day-to-day running of the company to Board deliberations.

Consequently, Platform Capital Investment Partners Limited, the majority shareholder of Duport Midstream Company Limited with 74 per cent shareholding sought to remove the disruptive directors from the board.

However, Duport Energy Limited sought to prevent the removal of its allegedly disruptive nominated directors.

Duport Energy Limited filed the aforesaid suit despite its awareness and those of its directors about the existence of an initial suit at the instance of Duport Midstream Company Limited on the same subject matter.