Retiree sues fund manager, over alleged agreement breach

…seek over N35 million refunds Retiree of one of the leading Multinational companies in Rivers State; Aniedi Inokon has sued the authorities and management of Cashcraft Asset Management Limited for over alleged breach of investment agreement. In the suit number PHC/1137/17 dated April 24, 2017 and filed before Justice Margret Opara of Rivers state High Court is seeking the sum of N35.5 million claim from the fund manager. According to the statement of claim sighted by newsmen represents the total annuity accrued from his N20 million retirement benefit he invested with the firm for his two children education abroad and for his wife, in whose he also reportedly registered part of the investment . The suit was between the Plaintiff (Inokon), and Cashcraft Asset management Limited and three others, suspected to be the authorities and management of the cash investment company. When the matter was mentioned in court Tuesday, the respondents, defendants were not in court, they were not also represented. The Plaintiff, through his Lawyer, Christian O. Ezeibe told the court that wright of summon had been served on parties in the matter and expressed surprise in their absence. According to him, while Cashcraft as an entity was served by way of hand in its Port Harcourt office along Port Harcourt/ Aba expressway, it was the actual place the transaction was made, it’s management personnel joined in the suit were served in accordance with the court order of way of courier services. But the court noted that there was no prove of service effected before the court. She said that the court belief that made the service did not note the person at the Aba road office that received the service on its behalf, and ordered that the service be regularised. She adjoined the case till November 22 for prove of service and hearing.]]>

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