Justice Daniel Osiagor of the Federal High Court in Lagos has issued an interlocutory injunction restraining Gray Mineral Limited, its Chief Executive Officer, Mr. George Oni, and its directors and agents from interfering with the company’s assets.
The injunction was granted pending the resolution of a lawsuit filed by Bale & Stark Limited, which accused the company of failing to settle its debts.
The order was made in response to a motion submitted by the petitioner’s legal counsel in case number FHC/L/CP/1667/2024. Justice Osiagor ruled on the matter after reviewing arguments presented by the petitioner’s lead counsel, Obafemi Oluwole, Esq., and subsequently dismissed a counter-affidavit filed by the respondents.
In rejecting the counter-affidavit, the judge noted that the respondent effectively acknowledged the petitioner’s financial investment in the company’s asset purchases.
“The balance of convenience favors granting this application until the substantive case is heard or an amicable repayment is arranged,” the judge stated. He referenced Order 28, Rule 20 of the Federal High Court (Civil Procedure) Rules 2019, which empowers the court to safeguard properties under dispute.
Citing legal precedence, the judge added: “The applicant’s legal rights and the balance of convenience favor the motion. See Buhari v. Obasanjo (2003) 7 NWLR – PART 850 at 648.”
Following the dismissal of the respondent’s counter-affidavit, the court proceeded to grant the petitioner’s request for an interlocutory injunction against Gray Mineral Limited and its officials.
Justice Osiagor ruled: “After reviewing the supporting affidavit, exhibits, and the written address filed on September 24, 2024, it is ordered that an interlocutory injunction be granted. The respondent, its directors, agents, servants, and privies are hereby restrained from tampering with, transferring, or otherwise disposing of any fixed or immovable assets pending the hearing and final determination of the substantive suit.”
Additionally, the court ordered all banks and financial institutions holding the respondents’ funds to refrain from altering or dissipating them. Any institution that violates this directive may face contempt proceedings.
The case was adjourned until May 27, 2025, for either a settlement report or the substantive hearing.
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