By Henry Ojelu
LAGOS—A Lagos State High Court sitting in Igbosere has dismissed an application seeking to stay the execution of its judgment in the suit between Samsung Heavy Industries Nigeria Limited, SHI, and its subsidiary, SHI-MCI FZE against Global Resources Management Ltd and LADOL.
Justice Lawal Abdul-fata, had in a judgment earlier in January, ordered LADOL to grant Samsung Heavy Industries and its subsidiary SHI-MCI FZE, unrestricted access to the Fabrication and Integration Yard in the LADOL Zone.
LADOL, however, appealed the judgment and further approached the High Court seeking a stay of execution.
But in a ruling, Justice Lawal refused the application and further reaffirmed his earlier judgment in the matter.
Reacting to the ruling, Chief Operating Officer of SHIN, Mr. Frank Eijzu, stated that the shipbuilding giant was pleased with the court’s decision.
Eijzu said: “Samsung is pleased that the High Court has once again ruled in its favour and against LADOL. The Judgment prevents LADOL from evicting Samsung from the yard, meaning that it shall comply with its legal obligations to provide services to the yard and its Nigerian employees.
“The judgment by the High Court of Lagos grants Samsung possession of its fabrication and integration yard while the validity of the termination of the Sub-lease Agreement is being determined at the London Court of International Arbitration.”
SHI dragged LADOL to court for allegedly abusing its monopolistic position and regulatory powers as a free zone manager in clear conflict of interest with its personal business interest.
In its response, LADOL denied all the allegations leveled against it.