Kashamu seeks to set aside N87.35bn judgment debt

The judgment sum, awarded by Justice Adeniyi Onigbanjo on January 24, runs from August 14, 2013, and – 1747 days after – has risen to N87.35billion as at May 27. The amount appreciates at N50m daily and at 10 per cent interest rate per annum, until the defendants’ yield up possession of the subject matter of the suit – a premises – to the claimant, Lexon Properties Ltd. The second and third defendants in the suit, marked LD/765/2013, are Kasmal Properties Limited and the Kano State Government. But our reporter learnt that the lawmaker representing Ogun East Senatorial District, had filed an application seeking to set aside the judgment. Justice Onigbanjo, in the ruling, a copy of which was seen by The Nation , held: “Pursuant to the provision of Order 23 Rule 5 of the High Court Procedure Rules 2012, I find the first defendant’s failure or refusal to attend CMC as scheduled today indicative of their being substantially unprepared to participate in the conference or their failure to participate in the conference in good faith. “Consequently, I shall enter judgment in respect of appropriate portions of the claimant’s claims against the defendants in line with the provision of the rule of the court. “Judgment in the sum of N50 million daily commencing from 14th day of August 2013, until the defendants yield up possession of the premises subject matter of the suit to the claimant is hereby entered in the claimant’s favour against the defendant. “It is further ordered that interest at the rate of 10 percent per annum be payable on the judgment sum from the 14th August, 2013, until final liquidation of the judgment sum”. The claimant, in its amended statement of claim filed through its counsel, Mrs. Obele Akinniranye and L. Adeoti stated, among others, that the suit arose following a Lease Agreement of March 23, 2007, it with the Kano State Government for a property at 1228 Bishop Oluwole Street, Victoria Island, Lagos. It added that both Kashamu and his firm are in possession of the property and had denied its workers access to it.]]>