Court Stops Removal of Directors of Platform Capital
Wale Igbintade
A Federal High Court in Lagos has restrained Duport Midstream Company Limited from taking any step towards removing the directors of a private investment firm, Platform Capital Investment Partners.
Justice Akintayo Aluko made the order upon hearing a Motion Exparte dated December 3, 2023, moved by counsel to the applicant, Olayinka Olajuwon, praying the court to grant the reliefs sought as endorsed on the motion paper.
The court in an Enrolment Order dated January 3, 2023, made an Order of Interlocutory Injunction restraining the first defendant (Duport Midstream Company Limited) either by itself or through its agents, servants, privies, representatives or any person or whosoever is acting on its behalf from taking any steps towards removing the directors of the first defendant nominated to its board of directors by the second defendant pending the hearing and determination of a suit marked FHC/L/CS/2623/2023 filed by Dr. Ponmile Osibo, a partner at Platform Capital.
The court also heard submissions of lawyer for the first defendant/respondent, Adegoke Oshobi (SAN), and for the second defendant, Chief Ayorinde (SAN) respectively.
Consequently, upon reading the affidavit in support of the motion paper sworn to by the plaintiff, Dr. Ponmile Osibo, and moved by his lawyer, the court granted the following reliefs: “An Order of Interlocutory Injunction restraining the first defendant/respondent either by itself or through its agents, servants, privies, representatives or any person or whosoever is acting on its behalf from taking any steps towards removing the directors of the first defendant/respondent nominated to its board of directors by the second defendant/respondent pending the hearing and determination of this suit.
“An order of Interlocutory Injunction restraining the first defendant/respondent from entertaining any request other than that of the members or directors of the second defendant/respondent to remove to commence any process for the removal of the second defendant/respondent’s nominated directors on the board of directors of the first defendant/ respondent pending the hearing and determination of this suit.”
However, the court directed the plaintiff to file an undertaking to indemnify the defendants.
The case has been adjourned to January 29 for mention.
