Justice Inyang Ekwo of the Federal High Court, Abuja Division has adjourned to September 26, a suit filed by CEC Africa Investment Limited and KANN utility company against the Attorney General of the Federation and others over the take over of Abuja Electricity Distribution Company (AEDC).
The judge made the adjournment sequel to an application by counsel to the plaintiffs seeking to adjourn to enable them explore more settlement options.
The Plaintiffs had sought an order of the court restraining the AGF and others from interfering in the operations of AEDC.
Back story
- The plaintiffs had approached the court on December 8, 2021. seeking an order of the court restraining the AGF and others from interfering with the operations of AEDC.
- The plaintiffs also sought an order, restraining the AGF, CBN, BPE and ministry of finance (1st-4th defendants) from taking any steps which may transfer, forfeit, reduce, takeover, foreclose or dilute 60 percent shareholding of the 2nd plaintiff (KANN) in AEDC.
- Ruling on the application, Justice Ekwo ordered parties to maintain status quo pending the hearing of the motion on notice.
- On February 16, the plaintiffs informed the court that the parties have agreed to settle between themselves out of court.
- Justice Ekwo then made an order granting the parties leave to settle out of court to return on April 25 with a report on the out-of-court settlement.
- However, on April 25 the matter did not hold and today was slated for a report of the settlement.
What happened in court
When the matter was called up, Adeyinka Aderemi, counsel for the plaintiff told the court that they got a letter from the defendants and that settlement among parties is still ongoing.
He said the plaintiffs had opted for a mediator in a bid to settle out of court, however, counsel to the defendants were against the appointment of a mediator as the mediation proposed was not accepted.
He said “We got a letter to that effect from office of Wole Olanipekun that the mediator appointed was not accepted.”
He then prayed the court for an adjournment to enable them explore more settlement options.
The judge in turn asked other counsels in the suit what their take was on the application for adjournment by counsel to the plaintiffs.
They all responded that they were not opposed to the application for an adjournment.
Consequently, Justice Ekwo adjourned the matter to September 26 for the conclusion of the report on the terms of settlement.