By Chidi Nkwopara
OWERRI—Justice F. A. Olubanjo of the Federal High Court, Owerri, has reserved ruling for November 5, 2010, in the application (FHC/OW/CS/43/08) filed by National Agency for Food and Drug Administration and Control, NAFDAC, for stay of execution of the judgment debt entered in favour of Reagan Remedies Nigeria Limited.
Arguing the motion on behalf of NAFDAC, Mr. Sebastine T. Hon, SAN, recalled that the court had on June 6, 2010, entered a N898,881,145.20 judgment in favour of the Owerri-based drug manufacturing firm but added that they had appealed against the decision of the court.
Hon said: “It is trite law that where there are chances of the applicant succeeding on appeal, then an application for stay of execution or injunction, pending appeal should be granted”.
He also submitted that although the law frowns on depriving a successful party of reaping the fruits of its judgment, the court could, in appropriate circumstances such as the instant case, made an order for stay of execution.