A boardroom crisis involving ex-President Olusegun Obasanjo’s former Special Adviser on Energy, Prof. Anthony Adegbulugbe and others has been fixed for May 11 for definite hearing.
Justice Ijeoma Ojukwu of the Federal High Court, Abuja, gave the verdict Tuesday after all pending motions relating to the substantive matters had been regularised by counsel to the parties.
Adegbulugbe, the chairman, Green Energy International Limited, and two directors, Dr Bunu Alibe and Mr Ayodele Olojede, have been locked in legal battle on the ownership and running of affairs of the oil company.
While the company is the plaintiff in the suit marked: FHC/ABJ/CS/1390/2020, Alibe and Olojede are the 1st and 2nd defendants respectively.
At the resumed sitting, Tuesday, the two defendants, through their counsel, Alade Agbabiaka (SAN), sought for an order of the court to discharge the ex parte order granted in favour of the plaintiff on November 4, 2020 which compelled them to attend an Annual General Meeting (AGM) of the company slated for Nov. 12 which they did not attend.
While arguing their motion seeking to discharge the order, the defendants averred that they did not attend the AGM because its notice ran afoul of the Companies and Allied Matters Act (CAMA) which requires 21 days notice before the meeting can be convened by the company.
They further told the court that the ex parte order infringed on their fundamental rights to freedom of association, adding that the order was obtained by the plaintiff by concealing material facts before the court.
They urged the court to vacate the ex parte order against them in the interest of justice.
But counsel to the plaintiff, Benbella Anachebe (SAN), opposed the application on the ground that the exparte order complained against had no life again.
He argued that the order was to last for 14 days and that the 14 days had since expired.
While giving her ruling in the matter, Justice Ojukwu held that the ex parte order had become an academic exercise, adding that delving into it would amount to premature incursion into the substantive matter.
Consequently, the trial judge fixed May 11 for definite hearing of the substantive matter.
Adegbulugbe, in the suit, is praying the court for a declaration that the two directors; Alibe and Olojede with 22.6% shares cannot impose their will on the majority shareholders who approved and sanctioned agreements reached with third party entities for the benefit of the company.