By Chidi Nkwopara
OWERRIâ€”The Federal High Court, Owerri, will 28 September 2010 entertain a motion on notice, urging it to stay the execution of the over N889 million judgment debt it slammed on National Agency for Food and Drug Administration and Control, NAFDAC.
According to the processes filed on behalf of NAFDAC by Mr. Sebastine Hon, SAN, in suit number FHC/OW/CS/43/2008, the establishment recalled that â€œthis honourable court, on 30/6/2010, gave judgment in favour of the respondent (Reagan Remedies Limited), to the tune of N889,881,145.20.â€
NAFDAC further stated in its affidavit in support of the motion that â€œthe respondent will not be prejudiced if this application is granted while the applicant will be greatly prejudiced if it is refused.â€
In his 14-point counter affidavit, the Chief Executive Officer of Reagan Remedies Limited, Dr. Christian Igwe, contended that â€œthe content of the said affidavit does not represent the true position of things in this matter.â€
Dr. Igwe further affirmed that his establishment â€œundertakes to provide a bank guarantee from a reputable bank to refund the judgment debt in case the defendant/judgment debtor/applicant, NAFDAC, wins on appeal.â€
In a written submission in opposition to the motion for stay of execution, Igweâ€™s counsel, Lateef Fagbemi, SAN, stated that it was a time-honoured principle of our law that the judgment of a competent court subsists and is binding until set aside on appeal or by any other judicial process.