By Abdulwahab Abdulah

A Federal High Court sitting in Lagos, will on October 11, 2012, rule on whether or not to set aside an ex-parte order appointing Oluwakemi Balogun, as receiver/ manager of the new Tejuosho Market complex on behalf of First Bank Plc.

The trial judge, Justice Okechukwu Okeke had earlier granted an interim order appointing First Bank as  Receiver/Manager over the assets of Stormberg Engineering Company Limited sequel to a suit by the bank against the company and Engineer Dolapo Atinmo over an alleged indebtedness to the bank.

At the resumed hearing in the case, the judge after arguments by counsel to First Bank and Access Bank, which applied to the court to be heard as an interested party, adjourned to rule during the court’s vacation.

Counsel to Access Bank Plc, Mr Kunle Ogunba, SAN, had in an application, challenged the order made ex-parte on March 13, 2012 over the receivership of the new Tejuosho Market complex.

Access Bank had urged the court “to set aside, annul or vacate the order” on the ground that the plaintiff allegedly suppressed facts in obtaining the order.

Its counsel, in the application, asked the court to dismiss case or alternatively strike out the order in limine as the entire action as couched and presented was a grievous and an abuse of court process.

It argued that the action by plaintiff was hurriedly conceived and surreptitiously style in response to another suit it filed on the subject matter.

Access Bank, through its counsel, argued that the action was predicated on the ground that there was an existence of a prior Deed of All Assets Debenture ranking in respect of the assets of the first defendant, the appointment of a Receiver/ Manager pursuant to same, the subject matter, purport and implications of the existence of an action in suit N0: FHC/L/CS/1082/011.

He added that the ex-parte order made in the suit on May 13, 2012 was deliberately suppressed from the court and therefore constitutes an abuse of court process.

He added that, the plaintiff had made several attempts without success to be joined as a party in the previous suit as well as setting aside the ex-parte order in the suit by Access Bank (the interested party) against Stormberg Engineering Company Limited.

He argued that First Bank had also sought for leave to appeal and stay the execution of the ex-parte order granted to his client, Access Bank by the court dated September 26, 2011 before the Court of Appeal.

He also stated that the existence of the extant suit alongside the earlier action at the Federal He  urged the court to dismiss the application for lack of merit while granting its prayers.

In its response, First Bank argued that suit N0: FHC/L/CS/1082/2011 filed by Access Bank had been concluded, as parties in the said suit executed terms of settlement, which was adopted and made judgment of the court.

The bank argued that the ex-parte order obtained on September 26, 2011 by the interested party (Access bank Plc) in the said suit lapsed after an adoption and pronouncement of the terms of settlement, which was executed by parties as judgment of the court on January 20, 2012.

The bank confirmed that it applied to be joined as a party in the suit to set aside the order but same was refused and struck out, which made them to seek a leave of the appellate.