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Court restrains firm, others over ANAMCO assets

By   Innocent Anaba

LAGOS—A Federal High Court, Lagos has restrained a firm, Atfreecal Ltd, Mr Jacques Gelin, Mr Nathaniel Abimaje and the Corporate Affairs Commission, CAC,  from selling, disposing, transferring and dealing with the property and assets of the Anambra Motor Manufacturing Co. Ltd, ANAMMCO.

The court also restrained them, their agents, servants and privies from dealing with or tampering in any way with the company’s bank accounts, trading stocks and merchandise including vehicles imported using it’s monies and hidden at various locations in Lagos until the suit is decided.

Mr Gelin was also restrained from parading himself as ANAMMCO’s Managing Director, MD, or acting as such, pending the hearing and determination of the suit by the company.

Justice Ibrahim Auta made the orders,  following a ex-parte, by ANAMMCO (the plaintiff/applicant). The court granted the company leave to serve the CAC with the processes in the suit in Abuja, which is outside the court’s jurisdiction.

Atfreecal, Mr Gelin, Mr Abimaje and the CAC are defendants in the suit.
ANAMMCO is praying the court to determine whether it was a breach of Mr Gelin’s fiduciary duty as the company’s MD to establish Atfreecal “for the purpose of taking over (hijacking) the core business of ANAMMCO,” and  whether he has any approval whatsoever to allegedly deploy the company’s resources for the purpose of setting up Atfreecal.

The plaintiff also want the court to determine whether Atfreecal is not a wholly owned and a subsidiary of ANAMMCO, and whether the second and third defendants are not constructive trustees of Atfreecal, contending that Mr Gelin, allegedly, used the company’s  funds and resources without approval to incorporate Atfreecal, where he allegedly subscribed 10,000 ordinary shares.

“On several occasions the second and third defendants colluded in siphoning the funds of ANAMMCO by purporting that the company  purchased Mercedes Benz buses from the first defendant,” the plaintiff alleged.

The company said, unless by an order of this court, the first, second and third defendants will continue to utilize the funds and resources of the company without accounting for same.


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